Massachusetts Financial Services Co. MA Cuts Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Massachusetts Financial Services Co. MA trimmed its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,918,612 shares of the textile maker's stock after selling 444,778 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.60% of Skechers U.S.A. worth $263,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SKX. Geode Capital Management LLC increased its stake in shares of Skechers U.S.A. by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after purchasing an additional 78,071 shares in the last quarter. Nemes Rush Group LLC acquired a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $190,000. Franklin Resources Inc. grew its holdings in Skechers U.S.A. by 7.5% in the fourth quarter. Franklin Resources Inc. now owns 177,663 shares of the textile maker's stock valued at $11,946,000 after purchasing an additional 12,449 shares during the period. Wellington Management Group LLP raised its stake in shares of Skechers U.S.A. by 6.3% during the 4th quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker's stock worth $73,319,000 after buying an additional 64,857 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of Skechers U.S.A. by 11.3% during the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock worth $12,010,000 after buying an additional 18,024 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the sale, the chief financial officer now directly owns 83,328 shares in the company, valued at $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 is available at the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the business'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 $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares in the company, 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. In the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SKX. Barclays cut their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a report on Monday, February 10th. TD Cowen boosted their price objective on 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. Evercore ISI increased their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Finally, StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.42.

Skechers U.S.A. Trading Down 4.6 %

Shares of Skechers U.S.A. stock traded down $2.21 during mid-day trading on Tuesday, hitting $46.00. The stock had a trading volume of 2,575,716 shares, compared to its average volume of 2,162,603. The firm has a market cap of $6.87 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. 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 50-day moving average of $61.81 and a two-hundred day moving average of $64.66. Skechers U.S.A., Inc. has a 12-month low of $45.33 and a 12-month high of $78.85.

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 the consensus estimate 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%. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.