Mutual of America Capital Management LLC Decreases Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Mutual of America Capital Management LLC reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 5.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,578 shares of the textile maker’s stock after selling 4,783 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Skechers U.S.A. worth $5,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Capital Management LLC raised its position in Skechers U.S.A. by 2.8% during the 3rd quarter. Janney Capital Management LLC now owns 8,646 shares of the textile maker’s stock worth $423,000 after buying an additional 233 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Skechers U.S.A. by 4.5% during the 3rd quarter. Inspire Investing LLC now owns 6,230 shares of the textile maker’s stock worth $305,000 after purchasing an additional 268 shares during the period. SageView Advisory Group LLC grew its stake in shares of Skechers U.S.A. by 3.0% during the 3rd quarter. SageView Advisory Group LLC now owns 9,428 shares of the textile maker’s stock worth $462,000 after purchasing an additional 276 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Skechers U.S.A. by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 35,699 shares of the textile maker’s stock worth $1,132,000 after purchasing an additional 312 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Skechers U.S.A. by 0.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 48,476 shares of the textile maker’s stock worth $2,373,000 after purchasing an additional 326 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Down 1.7 %

Shares of SKX opened at $56.17 on Monday. The firm has a market cap of $8.61 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $59.79 and its 200 day moving average price is $57.47. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $65.17.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.04. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. Skechers U.S.A.’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. On average, sell-side analysts forecast that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SKX shares. Raymond James dropped their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Bank of America started coverage on shares of Skechers U.S.A. in a research note on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective on the stock. Monness Crespi & Hardt lifted their price target on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Wedbush dropped their price target on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, February 2nd. Finally, Barclays started coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.58.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,067 shares of Skechers U.S.A. stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the transaction, the executive vice president now directly owns 14,023 shares of the company’s stock, valued at approximately $856,945.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Mark A. Nason sold 6,067 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $370,754.37. Following the completion of the transaction, the executive vice president now directly owns 14,023 shares of the company’s stock, valued at $856,945.53. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Greenberg sold 99,139 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $5,737,173.93. Following the transaction, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The disclosure for this sale can be found here. Insiders sold a total of 254,875 shares of company stock valued at $15,021,192 in the last three months. 24.79% of the stock is owned by corporate insiders.

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.