Brandywine Global Investment Management LLC Has $5.39 Million Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Brandywine Global Investment Management LLC decreased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,185 shares of the textile maker's stock after selling 5,950 shares during the period. Brandywine Global Investment Management LLC owned about 0.05% of Skechers U.S.A. worth $5,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SKX. Schroder Investment Management Group grew its position in shares of Skechers U.S.A. by 11.3% during the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after buying an additional 18,024 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in shares of Skechers U.S.A. by 31.2% in the 4th quarter. Heartland Advisors Inc. now owns 180,652 shares of the textile maker's stock worth $12,147,000 after purchasing an additional 43,000 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Skechers U.S.A. by 11.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 105,929 shares of the textile maker's stock valued at $7,123,000 after purchasing an additional 10,668 shares during the period. X Square Capital LLC grew its stake in 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 buying an additional 210 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Skechers U.S.A. during the 4th quarter worth $1,889,000. 79.96% of the stock is owned by institutional investors and hedge funds.

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Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded up $1.33 during trading on Friday, hitting $50.29. The stock had a trading volume of 7,405,275 shares, compared to its average volume of 2,135,686. The business has a fifty day moving average of $62.86 and a two-hundred day moving average of $64.92. Skechers U.S.A., Inc. has a fifty-two week low of $45.16 and a fifty-two week high of $78.85. The firm has a market cap of $7.51 billion, a P/E ratio of 12.12, a PEG ratio of 1.11 and a beta of 1.08. 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. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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%. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. This represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock valued at $13,452,902 over the last ninety days. Insiders own 24.75% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SKX. UBS Group reduced their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Barclays reduced their target price on shares of 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 price target 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. Stifel Nicolaus cut their price target on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler initiated coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.42.

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.