American Century Companies Inc. Reduces Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

American Century Companies Inc. decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 42.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,906 shares of the textile maker's stock after selling 179,904 shares during the quarter. American Century Companies Inc. owned about 0.16% of Skechers U.S.A. worth $16,669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SKX. TD Private Client Wealth LLC lifted its position in 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 in the last quarter. UMB Bank n.a. lifted its position 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 purchasing an additional 239 shares in the last quarter. IFP Advisors Inc boosted its holdings in Skechers U.S.A. by 62.4% during 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 last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. in the 4th quarter worth about $65,000. Finally, Blue Trust Inc. increased its stake in Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock valued at $81,000 after buying an additional 207 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Bank of America reduced their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 24th. UBS Group cut their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.42.

Insider Activity

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the sale, the general counsel now owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael Greenberg sold 33,656 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the transaction, the president now directly owns 137,530 shares in the company, valued at $8,356,322.80. This trade represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Stock Performance

SKX traded up $1.33 on Friday, hitting $50.29. The company's stock had a trading volume of 7,405,275 shares, compared to its average volume of 2,144,060. The company's 50 day simple moving average is $62.35 and its 200-day simple moving average is $64.77. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12 month low of $45.69 and a 12 month high of $78.85. The firm has a market cap of $7.51 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. Analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current 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.