MML Investors Services LLC Sells 17,789 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

MML Investors Services LLC cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 51.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,083 shares of the textile maker's stock after selling 17,789 shares during the quarter. MML Investors Services LLC's holdings in Skechers U.S.A. were worth $1,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock worth $30,000 after purchasing an additional 364 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after buying an additional 299 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Skechers U.S.A. by 778.1% in 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 during the period. Brooklyn Investment Group purchased a new position in Skechers U.S.A. during the third quarter valued at approximately $67,000. Finally, Quarry LP grew its stake in Skechers U.S.A. by 44.6% during the second quarter. Quarry LP now owns 1,187 shares of the textile maker's stock valued at $82,000 after acquiring an additional 366 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Trading Up 2.1 %

Shares of Skechers U.S.A. stock traded up $1.36 during trading on Friday, reaching $67.65. The company's stock had a trading volume of 7,879,068 shares, compared to its average volume of 1,905,771. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. The firm's 50-day moving average is $64.18 and its two-hundred day moving average is $66.11. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The company's revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

SKX has been the topic of several recent analyst reports. StockNews.com upgraded shares of Skechers U.S.A. from a "hold" rating to a "buy" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on 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. TD Cowen reduced their target price on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Bank of America lowered their price target on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler started coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $77.00.

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.