Adams Diversified Equity Fund Inc. Decreases Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Adams Diversified Equity Fund Inc. decreased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,300 shares of the textile maker's stock after selling 23,600 shares during the quarter. Adams Diversified Equity Fund Inc. owned about 0.15% of Skechers U.S.A. worth $15,284,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. 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 worth $29,000 after acquiring an additional 358 shares during the last quarter. UMB Bank n.a. boosted its holdings in 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 purchasing an additional 239 shares during the last quarter. IFP Advisors Inc grew 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 buying an additional 317 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Skechers U.S.A. during the 4th quarter worth approximately $65,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Skechers U.S.A. during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Analysts Set New Price Targets

SKX has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Piper Sandler began coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 price target for the company. Raymond James reduced their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, Stifel Nicolaus decreased their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.42.

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Insiders Place Their Bets

In other news, COO David Weinberg sold 8,219 shares of the business's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares of the company's stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 in the last quarter. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Stock Down 1.7 %

SKX traded down $0.97 during trading hours on Tuesday, hitting $57.38. 1,782,738 shares of the company's stock were exchanged, compared to its average volume of 2,015,156. The firm has a market cap of $8.57 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12-month low of $53.79 and a 12-month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $65.30 and a 200 day moving average of $65.44.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.