UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 84,583 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 14.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,706 shares of the textile maker's stock after selling 84,583 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.32% of Skechers U.S.A. worth $32,704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock valued at $30,000 after buying an additional 364 shares during the last quarter. Venturi Wealth Management LLC raised its stake 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 purchasing an additional 299 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Skechers U.S.A. during the third quarter valued at approximately $67,000. 1620 Investment Advisors Inc. bought a new stake in Skechers U.S.A. during the second quarter worth $69,000. Finally, Blue Trust Inc. raised its position in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $69,000 after buying an additional 887 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of SKX traded down $0.37 during trading hours on Thursday, hitting $70.28. The company's stock had a trading volume of 1,788,350 shares, compared to its average volume of 1,885,978. The business has a 50 day simple moving average of $63.65 and a two-hundred day simple moving average of $66.11. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.96 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates 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 previous year, the business earned $0.93 EPS. Skechers U.S.A.'s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts expect that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the topic of a number of analyst reports. Bank of America cut their price objective on shares of 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of 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. Needham & Company LLC initiated coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a "hold" rating on the stock. TD Cowen decreased their price target 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. Finally, StockNews.com downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $78.09.

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.