Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Second Line Capital LLC

Second Line Capital LLC cut its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 50.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,089 shares of the textile maker's stock after selling 16,236 shares during the quarter. Second Line Capital LLC's holdings in Skechers U.S.A. were worth $1,077,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock valued at $30,000 after acquiring an additional 364 shares in the last quarter. Venturi Wealth Management LLC increased its position in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock valued at $58,000 after buying an additional 299 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Skechers U.S.A. in the third quarter valued at about $67,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Skechers U.S.A. during the second quarter worth about $69,000. Finally, Blue Trust Inc. increased its holdings 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 in the last quarter. 79.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SKX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted 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 research report on Friday, October 25th. Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They set a "hold" rating on the stock. Bank of America reduced their target price on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Barclays boosted their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, Morgan Stanley upped their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.00.

Skechers U.S.A. Price Performance

Shares of NYSE SKX traded up $0.60 during trading on Wednesday, hitting $70.99. The company had a trading volume of 1,335,239 shares, compared to its average volume of 1,889,199. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $63.97 and a two-hundred day simple moving average of $66.18. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, research analysts expect that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

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.