Brandywine Global Investment Management LLC Sells 5,950 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Brandywine Global Investment Management LLC cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bridgewater Associates LP boosted its stake in Skechers U.S.A. by 39.9% in the third quarter. Bridgewater Associates LP now owns 4,166 shares of the textile maker's stock worth $279,000 after purchasing an additional 1,188 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Skechers U.S.A. in the third quarter valued at about $2,552,000. Edgestream Partners L.P. lifted its position in Skechers U.S.A. by 2.8% during the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker's stock worth $586,000 after buying an additional 236 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Skechers U.S.A. by 8.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,355 shares of the textile maker's stock worth $492,000 after acquiring an additional 545 shares during the last quarter. Finally, Cinctive Capital Management LP bought a new position in shares of Skechers U.S.A. in the third quarter worth about $326,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Phillip Paccione sold 10,994 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 $56.63, for a total transaction of $622,590.22. Following the completion of the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. The trade was a 42.29 % decrease in their position. 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 90 days. 24.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SKX has been the topic of a number of research reports. Raymond James reduced their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Barclays decreased their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. UBS Group cut their price target on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. TD Cowen lifted their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.42.

Skechers U.S.A. Trading Up 2.7 %

NYSE:SKX traded up $1.33 during trading hours on Friday, hitting $50.29. The stock had a trading volume of 7,405,275 shares, compared to its average volume of 2,144,060. The business's 50 day moving average is $62.35 and its 200-day moving average is $64.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a one year low of $45.69 and a one year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data 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 net margin of 7.13% and a return on equity of 13.73%. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.