Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Capital Fund Management S.A.

Capital Fund Management S.A. lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 53.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,307 shares of the textile maker's stock after selling 165,533 shares during the quarter. Capital Fund Management S.A. owned approximately 0.09% of Skechers U.S.A. worth $9,569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. TD Private Client Wealth LLC raised its stake in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after purchasing an additional 358 shares during the period. UMB Bank n.a. grew its position in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after acquiring an additional 239 shares during the period. IFP Advisors Inc increased its stake in Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after acquiring an additional 317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Skechers U.S.A. during the fourth quarter worth about $65,000. Finally, Blue Trust Inc. raised its position in Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock valued at $81,000 after purchasing an additional 207 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKX has been the subject of several research reports. Evercore ISI dropped their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday. Barclays cut their price target on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Bank of America decreased their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 24th. TD Cowen upped their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Raymond James decreased their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. 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 company has an average rating of "Moderate Buy" and an average target price of $74.67.

Insider Activity

In other Skechers U.S.A. news, COO David Weinberg sold 36,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares of the company's stock, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the sale, the general counsel now owns 15,000 shares of the company's stock, valued at $849,450. This trade represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,245 shares of company stock valued at $13,452,902. Insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.25 during trading hours on Thursday, reaching $46.96. The stock had a trading volume of 1,616,017 shares, compared to its average volume of 2,246,723. The firm has a 50-day moving average of $57.10 and a 200-day moving average of $63.59. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.11 and a beta of 1.08. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current 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.