Deutsche Bank AG Sells 45,675 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Deutsche Bank AG decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 42.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,635 shares of the textile maker’s stock after selling 45,675 shares during the quarter. Deutsche Bank AG’s holdings in Skechers U.S.A. were worth $4,212,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SKX. NewEdge Advisors LLC increased its stake in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Skechers U.S.A. by 53.1% in the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 239 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 317 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Skechers U.S.A. in the 4th quarter valued at $65,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

SKX opened at $61.95 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.11 and a beta of 1.06. The firm’s fifty day moving average price is $53.97 and its two-hundred day moving average price is $62.10. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 EPS. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Raymond James lowered shares of Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 5th. UBS Group restated a “neutral” rating and set a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, StockNews.com started coverage on shares of Skechers U.S.A. in a research note on Wednesday, May 14th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $70.00.

Insider Buying and Selling

In related news, COO David Weinberg sold 26,913 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $1,635,233.88. Following the transaction, the chief operating officer now directly owns 44,637 shares of the company’s stock, valued at approximately $2,712,144.12. The trade was a 37.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 40,924 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the completion of the transaction, the chief executive officer now directly owns 51,342 shares in the company, valued at $3,119,539.92. This trade represents a 44.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,599 shares of company stock valued at $7,099,910. 24.78% of the stock is owned by insiders.

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.