Commerce Bank Decreases Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Commerce Bank decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 448,817 shares of the textile maker's stock after selling 18,957 shares during the quarter. Commerce Bank owned 0.30% of Skechers U.S.A. worth $30,178,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC grew its position 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Skechers U.S.A. during the fourth quarter worth $12,852,000. Schroder Investment Management Group lifted its stake in shares of Skechers U.S.A. by 11.3% in the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after acquiring an additional 18,024 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock worth $8,069,000 after acquiring an additional 15,874 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new position in Skechers U.S.A. in the 4th quarter worth about $2,752,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction dated 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 sale, the chief executive officer now owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 36,000 shares of the 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 $2,257,920.00. Following the transaction, the chief operating officer now directly owns 54,499 shares of the company's stock, valued at $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Stock Up 3.9 %

Shares of Skechers U.S.A. stock traded up $1.91 during trading hours on Thursday, reaching $50.79. The company's stock had a trading volume of 1,803,238 shares, compared to its average volume of 2,271,317. The company has a market capitalization of $7.59 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.11 and a beta of 1.08. The stock's fifty day simple moving average is $55.47 and its two-hundred day simple moving average is $62.94. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results 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 net margin of 7.13% and a return on equity of 13.73%. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SKX. Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Raymond James dropped their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. UBS Group reduced their price objective on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Bank of America reduced their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Barclays lowered 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.67.

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.