Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,041 shares of the textile maker’s stock after selling 1,490 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Skechers U.S.A. were worth $1,062,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Huntington National Bank raised its position in Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after buying an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Skechers U.S.A. during the third quarter worth about $31,000. Planned Solutions Inc. acquired a new position in shares of Skechers U.S.A. during the fourth quarter worth about $70,000. Gateway Investment Advisers LLC purchased a new position in Skechers U.S.A. during the fourth quarter worth about $204,000. Finally, Intact Investment Management Inc. acquired a new stake in Skechers U.S.A. in the third quarter valued at about $176,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 2.8 %

Shares of SKX opened at $59.64 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $65.17. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. The firm has a 50 day simple moving average of $59.65 and a 200-day simple moving average of $57.90.

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

Insider Buying and Selling

In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were 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 in the company, valued at approximately $11,345,413.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,067 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $370,754.37. Following the transaction, the executive vice president now owns 14,023 shares of the company’s stock, valued at approximately $856,945.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Greenberg sold 99,139 shares of Skechers U.S.A. stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $5,737,173.93. Following the completion of the sale, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at approximately $11,345,413.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,875 shares of company stock worth $15,021,192. 24.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SKX has been the topic of several recent analyst reports. Raymond James dropped their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Evercore ISI dropped their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Barclays started coverage on Skechers U.S.A. in a report on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price for the company. Bank of America began 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 target on the stock. Finally, Monness Crespi & Hardt upped their target price on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.17.

About Skechers U.S.A.

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.