Savant Capital LLC Decreases Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Savant Capital LLC reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 29.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,234 shares of the textile maker's stock after selling 5,556 shares during the period. Savant Capital LLC's holdings in Skechers U.S.A. were worth $890,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. increased 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 valued at $46,000 after acquiring an additional 239 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock valued at $58,000 after acquiring an additional 299 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $65,000. Blue Trust Inc. increased its position in shares of Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $69,000 after acquiring an additional 887 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Skechers U.S.A. during the third quarter valued at approximately $67,000. 79.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SKX. UBS Group decreased their price target on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Morgan Stanley raised their target price 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. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Stifel Nicolaus decreased their target price on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. currently has an average rating of "Moderate Buy" and an average target price of $81.25.

Skechers U.S.A. Price Performance

NYSE:SKX traded up $2.43 during trading hours on Tuesday, hitting $66.53. 1,098,388 shares of the company's stock traded hands, compared to its average volume of 2,503,698. The firm has a market cap of $10.04 billion, a P/E ratio of 16.03, a P/E/G ratio of 0.95 and a beta of 1.19. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $78.85. The business's fifty day simple moving average is $69.86 and its two-hundred day simple moving average is $66.49. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted 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 net margin of 7.13% and a return on equity of 13.81%. On average, research analysts anticipate that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,093 shares of company stock valued at $6,804,900. Company insiders own 24.75% of the company's stock.

About Skechers U.S.A.

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.