M&T Bank Corp Trims Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

M&T Bank Corp lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,334 shares of the textile maker’s stock after selling 3,497 shares during the period. M&T Bank Corp’s holdings in Skechers U.S.A. were worth $829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Investment Partners LLC lifted its holdings in Skechers U.S.A. by 3.4% during the 4th quarter. Cornerstone Investment Partners LLC now owns 10,023 shares of the textile maker’s stock worth $674,000 after buying an additional 331 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Skechers U.S.A. by 26.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,041 shares of the textile maker’s stock worth $339,000 after buying an additional 1,041 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Skechers U.S.A. by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,218 shares of the textile maker’s stock worth $216,000 after buying an additional 1,023 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Skechers U.S.A. by 31.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,490 shares of the textile maker’s stock worth $100,000 after buying an additional 359 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Skechers U.S.A. during the 4th quarter worth approximately $2,378,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,738 shares of company stock valued at $14,700,809. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $55.75 on Wednesday. The stock has a market cap of $8.42 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $67.52 and a 200-day simple moving average of $66.17.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SKX. UBS Group reduced their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Barclays dropped their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Piper Sandler initiated coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Stifel Nicolaus lowered their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.