National Bank of Canada FI Sells 68,499 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

National Bank of Canada FI lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 96.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,211 shares of the textile maker's stock after selling 68,499 shares during the quarter. National Bank of Canada FI's holdings in Skechers U.S.A. were worth $149,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Spire Wealth Management increased its holdings in Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after acquiring an additional 155 shares during the last quarter. Calamos Wealth Management LLC grew its position in shares of Skechers U.S.A. by 0.9% during the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock valued at $1,228,000 after purchasing an additional 157 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of Skechers U.S.A. by 4.7% in the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock worth $302,000 after purchasing an additional 200 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after buying an additional 207 shares in the last quarter. Finally, X Square Capital LLC boosted its stake in Skechers U.S.A. by 0.5% during the fourth quarter. X Square Capital LLC now owns 42,835 shares of the textile maker's stock valued at $2,880,000 after buying an additional 210 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SKX has been the topic of several recent research reports. Evercore ISI decreased their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday. TD Cowen lifted their price objective 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. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Bank of America reduced their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.67.

Skechers U.S.A. Trading Up 1.7 %

Skechers U.S.A. stock traded up $0.79 during trading hours on Thursday, hitting $47.50. The company had a trading volume of 847,732 shares, compared to its average volume of 2,243,822. The firm has a market cap of $7.09 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a 50-day moving average price of $57.10 and a two-hundred day moving average price of $63.59. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

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%. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Activity

In related news, COO David Weinberg sold 36,000 shares of the business's 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 $2,257,920.00. Following the completion of the transaction, the chief operating officer now owns 54,499 shares of the company's stock, valued at $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,245 shares of company stock worth $13,452,902. Company insiders own 24.75% of the company's stock.

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.