Loomis Sayles & Co. L P Sells 18,389 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Loomis Sayles & Co. L P lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 733,678 shares of the textile maker's stock after selling 18,389 shares during the quarter. Loomis Sayles & Co. L P owned 0.49% of Skechers U.S.A. worth $49,332,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SKX. Bank of New York Mellon Corp raised its stake in shares of Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after purchasing an additional 953,528 shares in the last quarter. Wellington Management Group LLP raised its stake in Skechers U.S.A. by 39.0% in 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 in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Skechers U.S.A. by 68.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker's stock valued at $41,940,000 after buying an additional 253,045 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Skechers U.S.A. during the 4th quarter worth $12,852,000. Finally, Bfsg LLC increased its holdings in Skechers U.S.A. by 1,519.6% in the 4th quarter. Bfsg LLC now owns 101,487 shares of the textile maker's stock valued at $6,824,000 after buying an additional 95,221 shares during the period. Institutional investors own 79.96% of the company's stock.

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Skechers U.S.A. Trading Up 1.0 %

Shares of Skechers U.S.A. stock traded up $0.59 during trading on Tuesday, reaching $57.37. 567,390 shares of the stock were exchanged, compared to its average volume of 2,069,618. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85. The stock's fifty day moving average is $64.01 and its 200 day moving average is $65.14.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 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, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SKX shares. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They set a "neutral" rating and a $65.00 target price on the stock. TD Cowen lifted their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Bank of America cut their price target 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, March 24th. Evercore ISI upped their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.42.

Insiders Place Their Bets

In related news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares in the company, valued at $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. Insiders own 24.75% of the company's stock.

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.