Sei Investments Co. Cuts Position in Skechers U.S.A., Inc. (NYSE:SKX)

Sei Investments Co. cut its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,426 shares of the textile maker's stock after selling 12,695 shares during the period. Sei Investments Co.'s holdings in Skechers U.S.A. were worth $3,256,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. TD Private Client Wealth LLC grew its position in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. UMB Bank n.a. grew its holdings in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after buying an additional 239 shares in the last quarter. IFP Advisors Inc increased its position 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 buying an additional 317 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth about $65,000. Finally, Blue Trust Inc. boosted 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 valued at $81,000 after acquiring an additional 207 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Up 2.7 %

Shares of NYSE:SKX traded up $1.33 during trading on Friday, reaching $50.29. 7,405,275 shares of the company traded hands, compared to its average volume of 2,144,060. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52-week low of $45.69 and a 52-week high of $78.85. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 1.11 and a beta of 1.08. The business's fifty day moving average is $62.35 and its 200-day moving average is $64.77.

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Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 40,924 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $2,486,542.24. Following the completion of the sale, the chief executive officer now directly owns 51,342 shares in the company, valued at $3,119,539.92. This trade represents a 44.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock worth $13,452,902 over the last quarter. 24.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Raymond James lowered their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Evercore ISI boosted their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. TD Cowen raised their price objective on shares of 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. Finally, UBS Group dropped 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 note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $80.42.

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.