Te Ahumairangi Investment Management Ltd Lowers Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Te Ahumairangi Investment Management Ltd decreased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 17.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,287 shares of the textile maker's stock after selling 15,663 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Skechers U.S.A. were worth $4,995,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SKX. TD Private Client Wealth LLC raised its stake in shares of Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. raised its position in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after purchasing an additional 239 shares in the last quarter. IFP Advisors Inc raised its position in Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after purchasing an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skechers U.S.A. in the 4th quarter worth $65,000. Finally, Blue Trust Inc. grew its position in shares of Skechers U.S.A. by 20.7% during the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after buying an additional 207 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 36,000 shares of Skechers U.S.A. 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 completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the sale, the executive vice president now owns 25,675 shares in the company, valued at $1,696,604. The trade was a 31.93 % decrease in their position. 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 in the last ninety days. Company insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Up 2.7 %

NYSE SKX traded up $1.33 during trading on Friday, hitting $50.29. The company's stock had a trading volume of 7,405,275 shares, compared to its average volume of 2,135,687. Skechers U.S.A., Inc. has a fifty-two week low of $45.16 and a fifty-two week high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company has a market cap of $7.51 billion, a PE ratio of 12.12, a P/E/G ratio of 1.11 and a beta of 1.08. The business's 50 day simple moving average is $62.86 and its 200-day simple moving average is $64.92.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its 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 return on equity of 13.73% and a net margin of 7.13%. On average, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of research reports. TD Cowen upped their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. 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 research report on Monday, February 10th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Raymond James reduced their price objective 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. Finally, Stifel Nicolaus dropped their target price on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $80.42.

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.