Amalgamated Bank Cuts Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Amalgamated Bank decreased its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 22.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,379 shares of the textile maker's stock after selling 17,973 shares during the period. Amalgamated Bank's holdings in Skechers U.S.A. were worth $4,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. increased its stake in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker's stock worth $25,000 after purchasing an additional 164 shares during the period. CIBC Asset Management Inc increased its stake in shares of Skechers U.S.A. by 4.7% during the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker's stock valued at $264,000 after buying an additional 173 shares during the period. QRG Capital Management Inc. increased its stake in shares of Skechers U.S.A. by 2.0% during the first quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker's stock valued at $615,000 after buying an additional 194 shares during the period. X Square Capital LLC increased its stake in shares of Skechers U.S.A. by 0.5% during the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker's stock valued at $2,827,000 after buying an additional 215 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in shares of Skechers U.S.A. by 5.7% during the second quarter. Pallas Capital Advisors LLC now owns 6,027 shares of the textile maker's stock valued at $388,000 after buying an additional 324 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Down 2.2 %

NYSE SKX traded down $1.40 during trading on Friday, hitting $62.29. The company's stock had a trading volume of 1,850,936 shares, compared to its average volume of 1,896,146. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The company has a market cap of $9.40 billion, a PE ratio of 15.34, a P/E/G ratio of 0.86 and a beta of 1.23. The business's 50 day simple moving average is $64.76 and its 200-day simple moving average is $66.46. Skechers U.S.A., Inc. has a fifty-two week low of $49.06 and a fifty-two week high of $75.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company's revenue was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Skechers U.S.A. declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the textile maker to purchase up to 10.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SKX. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Evercore ISI raised their price target on Skechers U.S.A. from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Bank of America cut their price target on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Morgan Stanley raised their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.09.

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.