Cinctive Capital Management LP Has $2.37 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Cinctive Capital Management LP raised its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 621.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,168 shares of the textile maker's stock after buying an additional 30,295 shares during the period. Cinctive Capital Management LP's holdings in Skechers U.S.A. were worth $2,365,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SKX. Norges Bank purchased a new position in Skechers U.S.A. in the fourth quarter valued at about $105,741,000. Bank of New York Mellon Corp raised its holdings in shares of Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after buying an additional 953,528 shares during the period. Wellington Management Group LLP lifted its position in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after acquiring an additional 287,939 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Skechers U.S.A. by 68.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker's stock worth $41,940,000 after acquiring an additional 253,045 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $12,852,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

SKX has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Bank of America cut their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Raymond James lowered their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Evercore ISI upped their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, TD Cowen raised their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Three 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.42.

Insiders Place Their Bets

In related news, COO David Weinberg sold 36,000 shares of the firm's 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 $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. This trade represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Stock Performance

Shares of SKX traded up $1.33 during mid-day trading on Friday, reaching $50.29. 7,405,275 shares of the company's stock traded hands, compared to its average volume of 2,144,060. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The business's 50-day moving average price is $62.35 and its 200-day moving average price is $64.77. The stock has a market capitalization of $7.51 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 12 month low of $45.69 and a 12 month high of $78.85.

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