Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Man Group plc

Man Group plc lowered its position in Skechers U.S.A., Inc. (NYSE:SKX) by 55.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,936 shares of the textile maker’s stock after selling 197,659 shares during the quarter. Man Group plc owned 0.10% of Skechers U.S.A. worth $10,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC grew 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 valued at $28,000 after acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. UMB Bank n.a. grew its position in shares of Skechers U.S.A. by 53.1% in the fourth 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 during the last quarter. IFP Advisors Inc grew its position in shares of Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 0.0%

SKX opened at $62.10 on Monday. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The business has a 50-day moving average of $53.86 and a two-hundred day moving average of $62.11. 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 stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Skechers U.S.A.’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 business posted $1.33 earnings per share. On average, research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 40,924 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the completion of the sale, the chief executive officer now owns 51,342 shares in the company, valued at approximately $3,119,539.92. The trade was a 44.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares in the company, valued at $849,450. The trade was a 42.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,645 shares of company stock worth $7,895,910 in the last ninety days. Insiders own 24.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SKX shares. Stifel Nicolaus reduced their target price on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley restated an “equal weight” rating and issued a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Evercore ISI decreased their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Barclays reiterated an “equal weight” rating and set a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Finally, StockNews.com began coverage on shares of Skechers U.S.A. in a report on Wednesday, May 14th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Skechers U.S.A. 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.