Polymer Capital Management HK LTD Has $650,000 Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Polymer Capital Management HK LTD lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 70.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,674 shares of the textile maker's stock after selling 23,026 shares during the period. Polymer Capital Management HK LTD's holdings in Skechers U.S.A. were worth $650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its holdings in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after purchasing an additional 239 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after purchasing an additional 317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $65,000. Finally, Blue Trust Inc. raised its position in Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after purchasing an additional 207 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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Skechers U.S.A. Stock Up 0.3 %

Shares of Skechers U.S.A. stock traded up $0.12 during trading on Friday, reaching $49.47. The stock had a trading volume of 3,786,343 shares, compared to its average volume of 2,232,669. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.08. The stock has a fifty day moving average price of $58.55 and a two-hundred day moving average price of $63.99. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on SKX shares. Barclays lowered their target price on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Stifel Nicolaus dropped their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Bank of America dropped their price target on shares of 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, StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.92.

Insiders Place Their Bets

In related news, COO David Weinberg sold 36,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the transaction, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares of the company's stock, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock valued at $13,452,902 in the last three months. 24.75% of the stock is currently owned by corporate insiders.

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.