M&T Bank Corp Sells 8,141 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

M&T Bank Corp lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 34.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,831 shares of the textile maker's stock after selling 8,141 shares during the period. M&T Bank Corp's holdings in Skechers U.S.A. were worth $1,060,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SKX. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Skechers U.S.A. in the 2nd quarter valued at $335,000. Envestnet Portfolio Solutions Inc. boosted its position in Skechers U.S.A. by 23.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,490 shares of the textile maker's stock valued at $379,000 after buying an additional 1,049 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Skechers U.S.A. by 10.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 40,490 shares of the textile maker's stock valued at $2,799,000 after buying an additional 3,677 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Skechers U.S.A. by 51.2% in the second quarter. Nisa Investment Advisors LLC now owns 29,804 shares of the textile maker's stock worth $2,060,000 after buying an additional 10,091 shares during the period. Finally, Pallas Capital Advisors LLC increased its holdings in shares of Skechers U.S.A. by 5.7% in the second quarter. Pallas Capital Advisors LLC now owns 6,027 shares of the textile maker's stock worth $388,000 after buying an additional 324 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SKX shares. Morgan Stanley raised their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Barclays upped their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Bank of America dropped their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Finally, StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $77.00.

Skechers U.S.A. Trading Down 3.0 %

SKX stock traded down $2.12 during trading on Monday, reaching $68.23. The company had a trading volume of 2,077,214 shares, compared to its average volume of 1,885,056. 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., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09. The business has a 50 day moving average of $64.10 and a 200 day moving average of $66.17. The company has a market cap of $10.30 billion, a P/E ratio of 17.33, a PEG ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The business's revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.24 earnings per share 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.