Algert Global LLC Has $5.75 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Algert Global LLC cut its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,436 shares of the textile maker's stock after selling 51,167 shares during the period. Algert Global LLC owned about 0.06% of Skechers U.S.A. worth $5,745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bwcp LP raised its stake in Skechers U.S.A. by 21.9% during the fourth quarter. Bwcp LP now owns 377,024 shares of the textile maker's stock worth $25,351,000 after acquiring an additional 67,635 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Skechers U.S.A. by 2.6% during the 4th quarter. AQR Capital Management LLC now owns 1,028,548 shares of the textile maker's stock worth $69,160,000 after purchasing an additional 26,373 shares in the last quarter. Perbak Capital Partners LLP bought a new position in Skechers U.S.A. during the 4th quarter valued at about $275,000. Northern Trust Corp boosted its position in Skechers U.S.A. by 29.6% in the fourth quarter. Northern Trust Corp now owns 1,171,106 shares of the textile maker's stock valued at $78,745,000 after buying an additional 267,778 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in Skechers U.S.A. by 604.2% during the fourth quarter. Tudor Investment Corp ET AL now owns 103,692 shares of the textile maker's stock worth $6,972,000 after buying an additional 88,968 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Insider Buying and Selling

In related news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Michael Greenberg sold 33,656 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 $2,044,938.56. Following the completion of the transaction, the president now directly owns 137,530 shares of the company's stock, valued at approximately $8,356,322.80. The trade was a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock valued at $13,452,902 in the last 90 days. 24.78% of the stock is owned by insiders.

Skechers U.S.A. Price Performance

Shares of SKX stock opened at $61.41 on Tuesday. The firm's 50 day moving average price is $53.24 and its two-hundred day moving average price is $62.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. 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 $9.17 billion, a PE ratio of 14.80, a PEG ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 earnings per share. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

SKX has been the subject of a number of research analyst reports. 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 report on Thursday, April 10th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. TD Cowen raised their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Barclays decreased their price objective on shares of Skechers U.S.A. from $77.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Evercore ISI dropped their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.62.

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.

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