Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 37.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,089,157 shares of the textile maker's stock after selling 642,420 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.72% of Skechers U.S.A. worth $73,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heartland Advisors Inc. lifted its stake in shares of Skechers U.S.A. by 31.2% in the fourth quarter. Heartland Advisors Inc. now owns 180,652 shares of the textile maker's stock worth $12,147,000 after buying an additional 43,000 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Skechers U.S.A. by 11.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 105,929 shares of the textile maker's stock worth $7,123,000 after purchasing an additional 10,668 shares in the last quarter. X Square Capital LLC boosted its holdings in shares of Skechers U.S.A. by 0.5% during the 4th quarter. X Square Capital LLC now owns 42,835 shares of the textile maker's stock worth $2,880,000 after purchasing an additional 210 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $1,889,000. Finally, Norges Bank acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $105,741,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

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Skechers U.S.A. Stock Down 17.1 %

Shares of SKX traded down $10.07 during mid-day trading on Thursday, reaching $48.96. The company's stock had a trading volume of 10,487,296 shares, compared to its average volume of 2,112,044. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a 12-month low of $45.97 and a 12-month high of $78.85. The company's 50 day moving average is $63.40 and its 200 day moving average is $65.03. The stock has a market cap of $7.31 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts' consensus estimates 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%. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SKX. Bank of America dropped their target price on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 24th. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Barclays lowered their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, TD Cowen increased their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Skechers U.S.A. has an average rating of "Moderate Buy" and an average target price of $80.42.

Insider Buying and Selling

In related news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the sale, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the sale, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock valued at $13,452,902 over the last quarter. 24.75% of the stock is currently owned by insiders.

Skechers U.S.A. 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.