Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its position in Skechers U.S.A., Inc. (NYSE:SKX) by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,478,199 shares of the textile maker’s stock after selling 249,456 shares during the period. Bank of America Corp DE’s holdings in Skechers U.S.A. were worth $99,394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SKX. Raymond James Financial Inc. bought a new position in Skechers U.S.A. in the 4th quarter worth about $12,852,000. Schroder Investment Management Group boosted its position in shares of Skechers U.S.A. by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock worth $12,010,000 after buying an additional 18,024 shares during the period. Assenagon Asset Management S.A. grew its holdings in Skechers U.S.A. by 15.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after buying an additional 15,874 shares in the last quarter. Nordea Investment Management AB bought a new stake in Skechers U.S.A. during the 4th quarter valued at $2,752,000. Finally, Delphi Management Inc. MA bought a new position in shares of Skechers U.S.A. in the fourth quarter worth $1,517,000. 79.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company upped their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Evercore ISI lowered their price target on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $70.00.

Skechers U.S.A. Price Performance

SKX stock opened at $61.50 on Friday. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The firm has a 50-day moving average of $53.40 and a two-hundred day moving average of $62.07. The firm has a market capitalization of $9.19 billion, a PE ratio of 14.82, a P/E/G ratio of 1.11 and a beta of 1.06. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business posted $1.33 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the company’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 transaction, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. This represents a 5.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,245 shares of company stock valued at $13,452,902. Company insiders own 24.78% of the company’s stock.

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.