Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lessened its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 707,400 shares of the textile maker’s stock after selling 2,325 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Skechers U.S.A. were worth $47,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Skechers U.S.A. by 534.3% in the 4th 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 during the last quarter. UMB Bank n.a. boosted its holdings in shares of Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 239 shares during the period. IFP Advisors Inc lifted its holdings in Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. in the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 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 value of $3,299,072.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. This trade represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,245 shares of company stock worth $13,452,902. 24.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

SKX has been the topic of several research analyst reports. Wells Fargo & Company lifted their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. StockNews.com cut Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Finally, UBS Group restated a “neutral” rating and issued a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $70.00.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $61.50 on Monday. The company has a fifty day simple moving average of $53.40 and a 200-day simple moving average of $62.07. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.19 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Equities analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.