Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lessened its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 36.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 480,256 shares of the textile maker's stock after selling 277,971 shares during the period. ArrowMark Colorado Holdings LLC owned 0.32% of Skechers U.S.A. worth $32,292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SKX. NewEdge Advisors LLC lifted its stake in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after purchasing 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% in the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after buying an additional 239 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of 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. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Skechers U.S.A. during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Insider Buying and Selling

In other news, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the sale, the chief operating officer now owns 54,499 shares of the company's stock, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. The trade was a 46.15 % 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 ninety days. 24.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SKX. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Stifel Nicolaus cut their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Bank of America decreased their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Morgan Stanley lowered their target price on shares of Skechers U.S.A. from $80.00 to $73.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Evercore ISI decreased their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. presently has an average rating of "Moderate Buy" and a consensus target price of $70.77.

Skechers U.S.A. Stock Down 0.0 %

SKX traded down $0.02 on Tuesday, reaching $61.38. The company's stock had a trading volume of 37,744,123 shares, compared to its average volume of 2,754,783. The business's 50 day moving average is $53.24 and its 200 day moving average is $62.09. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) 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 business 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 company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 earnings per share. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.