Allspring Global Investments Holdings LLC Sells 8,312 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKXGet Rating) by 22.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 28,003 shares of the textile maker’s stock after selling 8,312 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Skechers U.S.A. were worth $887,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pzena Investment Management LLC lifted its holdings in Skechers U.S.A. by 16.4% during the 2nd quarter. Pzena Investment Management LLC now owns 8,033,986 shares of the textile maker’s stock valued at $285,849,000 after purchasing an additional 1,129,142 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Skechers U.S.A. by 6.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock valued at $99,065,000 after purchasing an additional 165,147 shares during the last quarter. Capital Research Global Investors lifted its holdings in Skechers U.S.A. by 4.8% during the 1st quarter. Capital Research Global Investors now owns 2,200,000 shares of the textile maker’s stock valued at $89,672,000 after purchasing an additional 100,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Skechers U.S.A. by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,145,473 shares of the textile maker’s stock valued at $87,454,000 after purchasing an additional 181,445 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Skechers U.S.A. by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,149,734 shares of the textile maker’s stock valued at $46,864,000 after purchasing an additional 28,868 shares during the last quarter. 93.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Katherine J. Blair sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $35.16, for a total transaction of $52,740.00. Following the sale, the director now owns 10,500 shares of the company’s stock, valued at approximately $369,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Skechers U.S.A. news, Director Katherine J. Blair sold 1,500 shares of Skechers U.S.A. stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $35.16, for a total value of $52,740.00. Following the sale, the director now owns 10,500 shares of the company’s stock, valued at approximately $369,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Greenberg sold 10,503 shares of Skechers U.S.A. stock in a transaction dated Tuesday, January 3rd. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 20,967 shares of company stock valued at $876,358. 24.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of research analyst reports. Argus raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, January 6th. Deutsche Bank Aktiengesellschaft dropped their target price 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. UBS Group boosted their target price on shares of Skechers U.S.A. from $53.00 to $63.00 in a research note on Friday. Cowen boosted their target price on shares of Skechers U.S.A. from $31.00 to $48.00 in a research note on Tuesday, December 6th. Finally, Monness Crespi & Hardt boosted their target price on shares of Skechers U.S.A. to $50.00 in a research note on Friday, December 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and an average target price of $49.83.

Skechers U.S.A. Price Performance

SKX opened at $46.62 on Monday. The stock has a market cap of $7.23 billion, a P/E ratio of 10.45 and a beta of 1.29. Skechers U.S.A., Inc. has a 12 month low of $31.28 and a 12 month high of $49.89. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $42.50 and a 200 day simple moving average of $38.70.

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

Skechers U.S.A. Profile

(Get Rating)

Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.

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

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