Fox Run Management L.L.C. Cuts Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Fox Run Management L.L.C. lessened its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 39.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 15,009 shares of the textile maker's stock after selling 9,604 shares during the period. Fox Run Management L.L.C.'s holdings in Skechers U.S.A. were worth $1,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKX. TD Private Client Wealth LLC raised its position in shares of Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after purchasing an additional 358 shares during the period. UMB Bank n.a. lifted its position in shares of 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 valued at $46,000 after acquiring an additional 239 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Skechers U.S.A. by 62.4% in 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 period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth about $65,000. Finally, Brooklyn Investment Group purchased a new position in Skechers U.S.A. in the 3rd quarter worth approximately $67,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the company's 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 transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. This trade 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 236,738 shares of company stock worth $14,700,809 in the last quarter. 24.75% of the stock is owned by company insiders.

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Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America lowered their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday. TD Cowen boosted their price target 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. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, Raymond James dropped 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, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and an average price target of $80.42.

Skechers U.S.A. Trading Up 0.8 %

Shares of SKX traded up $0.44 during midday trading on Thursday, hitting $57.79. The stock had a trading volume of 1,592,969 shares, compared to its average volume of 2,022,016. The stock's 50 day moving average is $64.77 and its 200 day moving average is $65.32. The firm has a market cap of $8.63 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. 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 1 year low of $53.79 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.