Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 272,432 shares of the textile maker's stock after selling 15,120 shares during the period. Legal & General Group Plc owned about 0.18% of Skechers U.S.A. worth $18,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Stifel Financial Corp increased its position in shares of Skechers U.S.A. by 120.7% in the 3rd quarter. Stifel Financial Corp now owns 72,808 shares of the textile maker's stock valued at $4,872,000 after purchasing an additional 39,819 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Skechers U.S.A. by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock valued at $148,395,000 after buying an additional 11,026 shares during the last quarter. Te Ahumairangi Investment Management Ltd lifted its position in Skechers U.S.A. by 31.0% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker's stock valued at $5,985,000 after acquiring an additional 21,275 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in 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 valued at $1,822,000 after acquiring an additional 13,836 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new position in shares of Skechers U.S.A. during the third quarter worth about $1,182,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded up $0.82 on Friday, hitting $47.53. The company's stock had a trading volume of 3,579,888 shares, compared to its average volume of 2,256,710. 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 firm has a fifty day moving average price of $56.75 and a 200-day moving average price of $63.46. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The company has a market capitalization of $7.10 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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%. On average, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In related news, CFO John M. Vandemore sold 5,112 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the sale, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were 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 of the company's stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock valued at $13,452,902 over the last three months. 24.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SKX shares. Evercore ISI dropped their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. TD Cowen increased 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 note on Wednesday, January 8th. UBS Group reduced their target price on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a report on Monday. Finally, Barclays lowered their price target on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Skechers U.S.A. currently has an average rating of "Moderate Buy" and an average price target of $74.67.

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.