Harbor Capital Advisors Inc. Cuts Position in Skechers U.S.A., Inc. (NYSE:SKX)

Harbor Capital Advisors Inc. cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 72.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,278 shares of the textile maker's stock after selling 65,283 shares during the period. Harbor Capital Advisors Inc.'s holdings in Skechers U.S.A. were worth $1,632,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Pacer Advisors Inc. increased its position in Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock valued at $176,628,000 after buying an additional 2,594,507 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after acquiring an additional 11,026 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Skechers U.S.A. by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker's stock valued at $130,350,000 after acquiring an additional 55,095 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock worth $88,126,000 after purchasing an additional 17,429 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after purchasing an additional 287,939 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America lowered their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, October 25th. TD Cowen boosted their price target on 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. Barclays increased their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Morgan Stanley upped their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Skechers U.S.A. from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and an average price target of $78.42.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the firm's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO David Weinberg sold 8,219 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Performance

SKX stock traded up $0.97 during midday trading on Monday, hitting $71.06. 1,944,577 shares of the stock traded hands, compared to its average volume of 1,393,383. The stock's fifty day simple moving average is $66.03 and its 200-day simple moving average is $65.56. The firm has a market cap of $10.73 billion, a P/E ratio of 17.50, a PEG ratio of 0.98 and a beta of 1.19. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company's quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $0.93 EPS. On average, analysts expect that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current 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.