Aptus Capital Advisors LLC Sells 16,235 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Aptus Capital Advisors LLC lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 50.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,093 shares of the textile maker's stock after selling 16,235 shares during the quarter. Aptus Capital Advisors LLC's holdings in Skechers U.S.A. were worth $1,077,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SKX. Bessemer Group Inc. raised its stake in shares of 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 last quarter. UMB Bank n.a. lifted its stake in Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock valued at $30,000 after acquiring an additional 364 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker's stock worth $44,000 after acquiring an additional 618 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock valued at $58,000 after purchasing an additional 299 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Skechers U.S.A. during the second quarter worth about $69,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SKX has been the topic of several recent analyst reports. StockNews.com raised shares of Skechers U.S.A. from a "hold" rating to a "buy" rating in a research report on Tuesday. Stifel Nicolaus boosted their price target on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 26th. TD Cowen decreased their target price on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Wedbush increased their target price on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Finally, Bank of America lowered their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Skechers U.S.A. has an average rating of "Buy" and a consensus price target of $78.09.

Skechers U.S.A. Trading Down 1.5 %

SKX stock traded down $0.94 during trading on Friday, reaching $60.63. The company had a trading volume of 333,458 shares, compared to its average volume of 1,884,376. 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 business has a 50 day moving average of $64.24 and a 200 day moving average of $66.47. Skechers U.S.A., Inc. has a 52 week low of $51.33 and a 52 week high of $75.09. The company has a market cap of $9.15 billion, a P/E ratio of 14.93, a PEG ratio of 0.85 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.31 billion. During the same period last year, the firm posted $0.93 earnings per share. The business's revenue for the quarter was up 16.0% on a year-over-year basis. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

Skechers U.S.A. announced that its board has initiated a share buyback program on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the textile maker to buy up to 10.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

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.