Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. decreased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 89.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,985 shares of the textile maker's stock after selling 16,162 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Skechers U.S.A. were worth $133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Planning boosted its holdings in Skechers U.S.A. by 15.7% in the 2nd quarter. Creative Planning now owns 9,504 shares of the textile maker's stock valued at $657,000 after purchasing an additional 1,292 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Skechers U.S.A. by 40.8% in the second quarter. Truist Financial Corp now owns 24,172 shares of the textile maker's stock valued at $1,671,000 after buying an additional 7,004 shares in the last quarter. Cetera Investment Advisers grew its holdings in Skechers U.S.A. by 32.9% during the second quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker's stock worth $1,729,000 after acquiring an additional 6,193 shares during the period. Sanctuary Advisors LLC purchased a new position in Skechers U.S.A. in the second quarter worth $1,027,000. Finally, Handelsbanken Fonder AB lifted its holdings in Skechers U.S.A. by 18.4% in the third quarter. Handelsbanken Fonder AB now owns 36,690 shares of the textile maker's stock valued at $2,455,000 after acquiring an additional 5,700 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Insider Buying and Selling at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares of the company's stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company's stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Trading Down 12.6 %

SKX traded down $9.56 on Friday, reaching $66.06. 10,536,456 shares of the company's stock were exchanged, compared to its average volume of 2,294,522. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85. The company's 50 day moving average is $70.51 and its 200-day moving average is $66.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.92 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued 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 net margin of 7.19% and a return on equity of 13.71%. Equities analysts predict that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Analyst Ratings Changes

SKX has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Bank of America decreased their price target on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. StockNews.com raised Skechers U.S.A. from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Raymond James cut their price target on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.50.

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.