Victory Capital Management Inc. Sells 114,011 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Victory Capital Management Inc. reduced its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 82.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,882 shares of the textile maker's stock after selling 114,011 shares during the quarter. Victory Capital Management Inc.'s holdings in Skechers U.S.A. were worth $1,673,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Cornerstone Investment Partners LLC grew its stake in shares of Skechers U.S.A. by 3.4% during the 4th quarter. Cornerstone Investment Partners LLC now owns 10,023 shares of the textile maker's stock worth $674,000 after acquiring an additional 331 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Skechers U.S.A. by 26.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,041 shares of the textile maker's stock worth $339,000 after acquiring an additional 1,041 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Skechers U.S.A. by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,218 shares of the textile maker's stock valued at $216,000 after buying an additional 1,023 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Skechers U.S.A. by 31.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,490 shares of the textile maker's stock valued at $100,000 after buying an additional 359 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Skechers U.S.A. in the fourth quarter valued at $2,378,000. 79.96% of the stock is owned by institutional investors.

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Insider Activity at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 shares of the business's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company's stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John M. Vandemore sold 5,112 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 236,738 shares of company stock valued at $14,700,809 over the last quarter. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Stock Performance

Shares of SKX traded down $0.26 during midday trading on Friday, reaching $56.11. 2,545,145 shares of the stock were exchanged, compared to its average volume of 2,011,620. Skechers U.S.A., Inc. has a twelve month low of $53.79 and a twelve month 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 market cap of $8.38 billion, a P/E ratio of 13.52, a PEG ratio of 1.11 and a beta of 1.21. The stock's 50 day simple moving average is $65.55 and its 200 day simple moving average is $65.53.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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%. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on SKX shares. UBS Group decreased their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, February 7th. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Barclays decreased their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Evercore ISI raised their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Piper Sandler began coverage on shares of 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Skechers U.S.A. has a consensus rating of "Moderate Buy" and an average price target of $81.25.

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.