Strs Ohio Sells 13,349 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Strs Ohio cut its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 32.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,483 shares of the textile maker’s stock after selling 13,349 shares during the quarter. Strs Ohio’s holdings in Skechers U.S.A. were worth $1,713,000 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. Advisors Asset Management Inc. bought a new position in shares of Skechers U.S.A. during the first quarter valued at $25,000. Fred Alger Management LLC bought a new position in shares of Skechers U.S.A. during the first quarter valued at $26,000. Huntington National Bank lifted its holdings in shares of Skechers U.S.A. by 861.7% during the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Skechers U.S.A. during the third quarter valued at $31,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Skechers U.S.A. by 117.7% during the third quarter. Lazard Asset Management LLC now owns 651 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 352 shares during the period. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $56.41 on Friday. The stock has a market capitalization of $8.65 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.02 and a beta of 1.32. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $65.17. The business has a 50-day moving average price of $59.67 and a two-hundred day moving average price of $57.69. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06.

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

Insider Transactions at Skechers U.S.A.

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 in the company, valued at approximately $856,945.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO David Weinberg sold 67,390 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the transaction, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark A. Nason sold 6,067 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 14,023 shares of the company’s stock, valued at $856,945.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,875 shares of company stock worth $15,021,192. 24.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SKX. Bank of America began coverage on Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Skechers U.S.A. in a report on Friday. Monness Crespi & Hardt lifted their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Stifel Nicolaus cut their price target on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Finally, TD Cowen lifted their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average price target of $66.17.

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.