Wellington Management Group LLP Buys 64,857 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Wellington Management Group LLP grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,090,413 shares of the textile maker's stock after purchasing an additional 64,857 shares during the quarter. Wellington Management Group LLP owned approximately 0.72% of Skechers U.S.A. worth $73,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Edgestream Partners L.P. boosted its stake in Skechers U.S.A. by 2.8% in the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker's stock worth $586,000 after purchasing an additional 236 shares during the period. Quantinno Capital Management LP increased its stake in shares of Skechers U.S.A. by 42.1% during the third quarter. Quantinno Capital Management LP now owns 86,920 shares of the textile maker's stock valued at $5,817,000 after buying an additional 25,741 shares during the period. SageView Advisory Group LLC boosted its position in Skechers U.S.A. by 58.0% during the third quarter. SageView Advisory Group LLC now owns 8,272 shares of the textile maker's stock valued at $554,000 after purchasing an additional 3,035 shares in the last quarter. Stifel Financial Corp boosted its holdings in Skechers U.S.A. by 120.7% in the third quarter. Stifel Financial Corp now owns 72,808 shares of the textile maker's stock worth $4,872,000 after acquiring an additional 39,819 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in Skechers U.S.A. in the third quarter worth about $4,588,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

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Insider Activity

In other Skechers U.S.A. news, COO David Weinberg sold 36,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the transaction, the chief operating officer now directly owns 54,499 shares of the company's stock, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The stock was 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 in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,245 shares of company stock worth $13,452,902. Insiders own 24.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SKX shares. Evercore ISI boosted their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Bank of America decreased 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 note on Monday, March 24th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Barclays dropped their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Finally, Stifel Nicolaus dropped their target price on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.92.

Skechers U.S.A. Price Performance

Shares of SKX stock traded down $1.28 during trading hours on Thursday, hitting $49.30. 1,225,987 shares of the company's stock were exchanged, compared to its average volume of 2,202,123. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The stock's 50-day moving average is $59.51 and its 200-day moving average is $64.21.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly 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 net margin of 7.13% and a return on equity of 13.73%. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

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.