Marshall Wace LLP Reduces Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Marshall Wace LLP trimmed its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 79.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,065 shares of the textile maker's stock after selling 542,330 shares during the period. Marshall Wace LLP owned 0.09% of Skechers U.S.A. worth $9,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Skechers U.S.A. during the 4th quarter worth $105,741,000. Bank of New York Mellon Corp lifted its holdings in Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Skechers U.S.A. by 545.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 332,813 shares of the textile maker's stock worth $22,378,000 after purchasing an additional 281,234 shares during the period. Vaughan Nelson Investment Management L.P. increased 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 worth $41,940,000 after purchasing an additional 253,045 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $12,852,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SKX. UBS Group cut their price objective on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday. Raymond James decreased their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Bank of America cut their target price 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. Finally, Evercore ISI reduced their target price on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.67.

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

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the transaction, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 33,656 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the completion of the sale, the president now directly owns 137,530 shares of the company's stock, valued at $8,356,322.80. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last 90 days. Corporate insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Up 2.7 %

SKX stock opened at $48.04 on Wednesday. The company's 50 day moving average is $55.77 and its 200 day moving average is $63.03. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth 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 1-year low of $44.50 and a 1-year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly 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 return on equity of 13.73% and a net margin of 7.13%. Sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Skechers U.S.A. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.