Janney Montgomery Scott LLC Sells 5,384 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Janney Montgomery Scott LLC cut its stake in Skechers U.S.A., Inc. (NYSE:SKXGet Rating) by 21.2% in the 3rd quarter, Holdings Channel reports. The firm owned 20,038 shares of the textile maker’s stock after selling 5,384 shares during the period. Janney Montgomery Scott LLC’s holdings in Skechers U.S.A. were worth $636,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its holdings in Skechers U.S.A. by 16.4% in the 2nd quarter. Pzena Investment Management LLC now owns 8,033,986 shares of the textile maker’s stock worth $285,849,000 after purchasing an additional 1,129,142 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Skechers U.S.A. by 6.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock worth $99,065,000 after purchasing an additional 165,147 shares in the last quarter. Capital Research Global Investors raised its holdings in Skechers U.S.A. by 4.8% in the 1st quarter. Capital Research Global Investors now owns 2,200,000 shares of the textile maker’s stock worth $89,672,000 after purchasing an additional 100,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Skechers U.S.A. by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,145,473 shares of the textile maker’s stock worth $87,454,000 after purchasing an additional 181,445 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Skechers U.S.A. by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,149,734 shares of the textile maker’s stock worth $46,864,000 after acquiring an additional 28,868 shares in the last quarter. 93.29% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $46.62 on Friday. The company’s 50-day moving average is $42.50 and its 200 day moving average is $38.66. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 2.27. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 10.45 and a beta of 1.28. Skechers U.S.A., Inc. has a one year low of $31.28 and a one year high of $49.89.

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

Wall Street Analysts Forecast Growth

SKX has been the subject of several research reports. Wedbush decreased their price target on shares of Skechers U.S.A. from $42.00 to $37.00 in a research note on Wednesday, October 26th. Raymond James increased their price target on shares of Skechers U.S.A. from $40.00 to $48.00 in a research note on Thursday, December 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Skechers U.S.A. from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Monness Crespi & Hardt increased their price target on shares of Skechers U.S.A. to $50.00 in a research note on Friday, December 2nd. Finally, Piper Sandler began coverage on shares of Skechers U.S.A. in a research note on Wednesday, December 28th. They issued a “neutral” rating and a $42.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.83.

Insider Activity

In other news, COO David Weinberg sold 8,403 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total transaction of $355,362.87. Following the sale, the chief operating officer now owns 124,419 shares of the company’s stock, valued at approximately $5,261,679.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, President Michael Greenberg sold 10,503 shares of the firm’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 $444,171.87. Following the transaction, the president now owns 427,080 shares of the company’s stock, valued at $18,061,213.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 8,403 shares of the firm’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 transaction of $355,362.87. Following the completion of the transaction, the chief operating officer now directly owns 124,419 shares in the company, valued at approximately $5,261,679.51. The disclosure for this sale can be found here. Insiders have sold a total of 20,967 shares of company stock valued at $876,358 in the last 90 days. 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.

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

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