Skechers U.S.A., Inc. (NYSE:SKX) Holdings Trimmed by M&T Bank Corp

M&T Bank Corp lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,068 shares of the textile maker’s stock after selling 11,156 shares during the period. M&T Bank Corp’s holdings in Skechers U.S.A. were worth $1,687,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. lifted its stake in Skechers U.S.A. by 6,521.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock worth $90,804,000 after acquiring an additional 1,434,601 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Skechers U.S.A. by 371.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock worth $47,282,000 after purchasing an additional 597,702 shares during the period. AQR Capital Management LLC grew its position in Skechers U.S.A. by 72.8% during the third quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock valued at $64,185,000 after purchasing an additional 552,452 shares in the last quarter. Invesco Ltd. increased its stake in Skechers U.S.A. by 138.2% in the 3rd quarter. Invesco Ltd. now owns 770,710 shares of the textile maker’s stock valued at $37,726,000 after buying an additional 447,192 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Skechers U.S.A. by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,770,584 shares of the textile maker’s stock worth $233,520,000 after buying an additional 112,517 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling

In other Skechers U.S.A. news, President Michael Greenberg sold 25,282 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,544,983.02. Following the sale, the president now owns 123,441 shares of the company’s stock, valued at approximately $7,543,479.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President Michael Greenberg sold 25,282 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the completion of the transaction, the president now directly owns 123,441 shares in the company, valued at approximately $7,543,479.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark A. Nason sold 6,067 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $370,754.37. Following the completion of the sale, the executive vice president now directly 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 90 days, insiders sold 81,914 shares of company stock valued at $5,005,765. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Trading Up 1.6 %

NYSE:SKX opened at $68.07 on Friday. The company’s 50 day moving average is $60.89 and its 200-day moving average is $59.14. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $69.07. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 1.17 and a beta of 1.29.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, topping the consensus estimate of $1.10 by $0.23. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. 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. 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 research note on Friday, February 2nd. Wedbush boosted their price target on Skechers U.S.A. from $68.00 to $76.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Bank of America assumed coverage on shares of Skechers U.S.A. in a research report on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective on the stock. Finally, Evercore ISI decreased their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.83.

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.