Rhumbline Advisers Boosts Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Rhumbline Advisers increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 378,469 shares of the textile maker's stock after buying an additional 24,247 shares during the period. Rhumbline Advisers owned 0.25% of Skechers U.S.A. worth $25,448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC raised its position in shares of Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker's stock worth $1,822,000 after buying an additional 13,836 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker's stock worth $9,295,000 after buying an additional 25,289 shares in the last quarter. National Bank of Canada FI raised its position in shares of Skechers U.S.A. by 2,340.0% in the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker's stock worth $4,732,000 after buying an additional 67,812 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock worth $88,126,000 after buying an additional 17,429 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Skechers U.S.A. by 15.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock worth $8,069,000 after buying an additional 15,874 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. TD Cowen raised their price target on 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. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Bank of America decreased their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Finally, 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 report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Insider Buying and Selling

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the company's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,139 shares of company stock valued at $7,600,899 in the last ninety days. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Stock Performance

SKX traded down $3.42 during mid-day trading on Friday, reaching $62.22. 1,120,202 shares of the company traded hands, compared to its average volume of 2,498,806. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85. The company's fifty day moving average price is $69.61 and its 200-day moving average price is $66.53. 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 stock has a market capitalization of $9.39 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.12 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results 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 net margin of 7.13% and a return on equity of 13.73%. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current 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.