Skechers U.S.A., Inc. (NYSE:SKX) Position Reduced by Algert Global LLC

Algert Global LLC trimmed 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 disclosure with the Securities & Exchange Commission. The fund owned 85,436 shares of the textile maker's stock after selling 51,167 shares during the quarter. Algert Global LLC owned approximately 0.06% of Skechers U.S.A. worth $5,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC increased its stake in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Skechers U.S.A. by 534.3% during 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. lifted its holdings in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after acquiring an additional 239 shares during the period. IFP Advisors Inc lifted its holdings in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after acquiring an additional 317 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth approximately $65,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction dated 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 sale, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction on Monday, March 3rd. The stock was 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. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last quarter. 24.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SKX shares. UBS Group reaffirmed a "neutral" rating and set a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Evercore ISI reduced 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. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. currently has a consensus rating of "Hold" and a consensus price target of $70.00.

Skechers U.S.A. Stock Up 0.1 %

Shares of SKX traded up $0.04 during trading on Friday, reaching $61.50. The company's stock had a trading volume of 6,087,343 shares, compared to its average volume of 2,917,491. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.11 and a beta of 1.06. 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 fifty day moving average of $53.40 and a two-hundred day moving average of $62.07. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted 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 firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal 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.