Trexquant Investment LP Decreases Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Trexquant Investment LP reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 87.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,762 shares of the textile maker's stock after selling 388,829 shares during the period. Trexquant Investment LP's holdings in Skechers U.S.A. were worth $3,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SKX. Spire Wealth Management boosted its stake in 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 purchasing an additional 155 shares in the last quarter. Calamos Wealth Management LLC lifted its stake in shares of 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 worth $1,228,000 after buying an additional 157 shares in the last quarter. Independent Advisor Alliance grew its holdings 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. Blue Trust Inc. increased its position in shares of 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 valued at $81,000 after acquiring an additional 207 shares in the last quarter. Finally, X Square Capital LLC raised its holdings in Skechers U.S.A. by 0.5% in the 4th quarter. X Square Capital LLC now owns 42,835 shares of the textile maker's stock worth $2,880,000 after acquiring an additional 210 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several analysts have commented on the company. Bank of America cut their target price on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Raymond James reduced their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Stifel Nicolaus lowered their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday. StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Barclays decreased their price objective 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. currently has an average rating of "Moderate Buy" and a consensus price target of $78.92.

Skechers U.S.A. Stock Performance

Shares of SKX stock traded up $0.12 during mid-day trading on Friday, reaching $49.47. 3,786,343 shares of the company's stock traded hands, compared to its average volume of 2,232,669. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm has a market capitalization of $7.39 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The firm has a 50 day moving average price of $58.55 and a two-hundred day moving average price of $63.99.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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 EPS for the current year.

Insider Buying and Selling

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the sale, the general counsel now directly owns 15,000 shares of the company's stock, valued at $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the business's 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 completion of the transaction, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is owned by corporate insiders.

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.