Alliancebernstein L.P. Has $11.48 Million Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Alliancebernstein L.P. cut its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 170,687 shares of the textile maker's stock after selling 5,250 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Skechers U.S.A. worth $11,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Skechers U.S.A. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock valued at $843,474,000 after purchasing an additional 82,143 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after buying an additional 953,528 shares during the last quarter. Geode Capital Management LLC lifted its position in Skechers U.S.A. by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after buying an additional 11,026 shares in the last quarter. Norges Bank acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth about $105,741,000. Finally, Wellington Management Group LLP increased its position in shares of Skechers U.S.A. by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker's stock valued at $73,319,000 after acquiring an additional 64,857 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

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Wall Street Analyst Weigh In

SKX has been the subject of a number of analyst reports. Barclays decreased their price target on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Evercore ISI raised their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. UBS Group dropped their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday. Finally, StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.92.

Insider Activity at Skechers U.S.A.

In other news, CFO John M. Vandemore sold 5,112 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the 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 $2,257,920.00. Following the sale, the chief operating officer now owns 54,499 shares in the company, valued at $3,418,177.28. This represents a 39.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock worth $13,452,902. Company insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Performance

SKX traded up $0.12 during trading on Friday, hitting $49.47. The stock had a trading volume of 3,786,343 shares, compared to its average volume of 2,232,669. 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 50 day moving average price of $58.55 and a 200-day moving average price of $63.99. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. As a group, research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current 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.