Y Intercept Hong Kong Ltd Has $607,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

Y Intercept Hong Kong Ltd reduced its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 55.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,034 shares of the textile maker's stock after selling 11,285 shares during the period. Y Intercept Hong Kong Ltd's holdings in Skechers U.S.A. were worth $607,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Spire Wealth Management boosted its position in shares of Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after buying an additional 155 shares in the last quarter. Calamos Wealth Management LLC increased its stake in Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock valued at $1,228,000 after purchasing an additional 157 shares during the last quarter. Lindenwold Advisors INC increased its stake in shares of Skechers U.S.A. by 3.0% during the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker's stock valued at $446,000 after acquiring an additional 195 shares during the last quarter. Blue Trust Inc. raised its stake in Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after purchasing an additional 207 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Skechers U.S.A. by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 4,166 shares of the textile maker's stock valued at $280,000 after acquiring an additional 213 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling

In related news, President Michael Greenberg sold 10,274 shares of the company's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the sale, the president now directly owns 149,327 shares of the company's stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now directly owns 122,211 shares of the company's stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,738 shares of company stock worth $14,700,809. Insiders own 24.75% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the topic of a number of recent research reports. Barclays reduced their price target 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. Evercore ISI boosted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Piper Sandler assumed coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 target price for the company. Finally, StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of "Moderate Buy" and an average target price of $81.25.

Skechers U.S.A. Trading Up 2.7 %

SKX stock traded up $1.59 during mid-day trading on Wednesday, reaching $59.35. 1,982,320 shares of the stock traded hands, compared to its average volume of 1,964,649. The stock's fifty day moving average is $68.36 and its 200-day moving average is $66.47. The company has a current ratio of 1.97, a quick ratio of 1.12 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 $78.85. The company has a market cap of $8.96 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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%. As a group, sell-side analysts expect 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.