Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in Skechers U.S.A., Inc. (NYSE:SKXGet Rating) by 4.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 71,687 shares of the textile maker’s stock after selling 3,588 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Skechers U.S.A. were worth $2,274,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue grew its holdings in Skechers U.S.A. by 2.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 19,366 shares of the textile maker’s stock valued at $689,000 after buying an additional 385 shares during the period. Bfsg LLC lifted its stake in shares of Skechers U.S.A. by 5.8% in the 2nd quarter. Bfsg LLC now owns 7,063 shares of the textile maker’s stock valued at $251,000 after purchasing an additional 385 shares in the last quarter. Thompson Investment Management Inc. lifted its stake in shares of Skechers U.S.A. by 0.5% in the 2nd quarter. Thompson Investment Management Inc. now owns 91,684 shares of the textile maker’s stock valued at $3,262,000 after purchasing an additional 479 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Skechers U.S.A. by 162.5% in the 3rd quarter. Allworth Financial LP now owns 790 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 489 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its stake in shares of Skechers U.S.A. by 7.8% in the 2nd quarter. Summit Trail Advisors LLC now owns 7,583 shares of the textile maker’s stock valued at $270,000 after purchasing an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SKX shares. Cowen lifted their price objective on Skechers U.S.A. from $31.00 to $48.00 in a research note on Tuesday, December 6th. Monness Crespi & Hardt lifted their price objective on Skechers U.S.A. to $50.00 in a research note on Friday, December 2nd. StockNews.com initiated coverage on Skechers U.S.A. in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley reduced their price target on Skechers U.S.A. from $59.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Skechers U.S.A. from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Skechers U.S.A. Price Performance

SKX stock opened at $46.56 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 0.06. Skechers U.S.A., Inc. has a 52-week low of $31.28 and a 52-week high of $49.89. The stock’s 50 day moving average is $41.78 and its two-hundred day moving average is $38.40. The company has a market capitalization of $7.22 billion, a PE ratio of 10.44 and a beta of 1.28.

Skechers U.S.A. (NYSE:SKXGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.19). Skechers U.S.A. had a return on equity of 10.03% and a net margin of 9.70%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Analysts predict that Skechers U.S.A., Inc. will post 2.26 earnings per share for the current fiscal year.

Insider Activity

In other news, COO David Weinberg sold 8,403 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total value of $355,362.87. Following the completion of the sale, the chief operating officer now directly owns 124,419 shares in the company, valued at approximately $5,261,679.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Michael Greenberg sold 10,503 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total value of $444,171.87. Following the completion of the sale, the president now directly owns 427,080 shares in the company, valued at approximately $18,061,213.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Weinberg sold 8,403 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total value of $355,362.87. Following the completion of the sale, the chief operating officer now owns 124,419 shares of the company’s stock, valued at $5,261,679.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,967 shares of company stock worth $876,358. 24.44% of the stock is currently owned by insiders.

Skechers U.S.A. Profile

(Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

Featured Stories

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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