Grandeur Peak Global Advisors LLC Trims Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Grandeur Peak Global Advisors LLC lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,490 shares of the textile maker's stock after selling 28,834 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.05% of Skechers U.S.A. worth $5,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Spire Wealth Management increased its holdings 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 valued at $100,000 after acquiring an additional 155 shares during the period. Calamos Wealth Management LLC grew 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. Cerity Partners LLC raised its holdings in Skechers U.S.A. by 1.2% in the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after purchasing an additional 172 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Skechers U.S.A. by 4.7% during the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock valued at $302,000 after buying an additional 200 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock valued at $81,000 after buying an additional 207 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. UBS Group reduced their target price on Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating on the stock in a research report on Monday. Barclays lowered their price target on 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. Bank of America cut their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, Evercore ISI lifted their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.75.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX traded down $1.41 during trading on Tuesday, reaching $47.73. 2,991,279 shares of the company's stock traded hands, compared to its average volume of 2,245,980. The firm has a market cap of $7.13 billion, a PE ratio of 11.50, a P/E/G ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. 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 company has a 50-day simple moving average of $58.05 and a 200-day simple moving average of $63.82.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts' consensus estimates 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%. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Buying and Selling at Skechers U.S.A.

In related news, President Michael Greenberg sold 33,656 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,044,938.56. Following the completion of the transaction, the president now directly owns 137,530 shares of the company's stock, valued at approximately $8,356,322.80. This represents a 19.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction dated 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 owns 61,367 shares of the company's stock, 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. Insiders have sold a total of 218,245 shares of company stock valued at $13,452,902 over the last ninety days. Corporate insiders own 24.75% of the company's stock.

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.