Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 5.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 272,432 shares of the textile maker’s stock after selling 15,120 shares during the period. Legal & General Group Plc owned approximately 0.18% of Skechers U.S.A. worth $18,318,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its stake in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. grew its stake in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares in the last quarter. IFP Advisors Inc increased its holdings in Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Skechers U.S.A. in the 4th quarter valued at about $65,000. Finally, Blue Trust Inc. boosted its stake in shares of Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after buying an additional 207 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKX has been the topic of several analyst reports. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. TD Cowen raised their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. UBS Group cut their price target on Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Raymond James lowered their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company 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. Based on data from MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average target price of $76.75.

Skechers U.S.A. Trading Down 0.7 %

SKX opened at $49.10 on Tuesday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The business’s 50 day moving average is $58.05 and its two-hundred day moving average is $63.82. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate 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, research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 36,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,245 shares of company stock worth $13,452,902. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Company Profile

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.