Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 42.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,635 shares of the textile maker's stock after selling 45,675 shares during the quarter. Deutsche Bank AG's holdings in Skechers U.S.A. were worth $4,212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. NewEdge Advisors LLC raised 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 purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC raised its stake 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 purchasing an additional 358 shares during the last quarter. UMB Bank n.a. raised its stake in 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 purchasing an additional 239 shares during the last quarter. IFP Advisors Inc raised its stake in Skechers U.S.A. by 62.4% in the 4th 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. acquired a new position in Skechers U.S.A. in the 4th quarter valued at $65,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO John M. Vandemore sold 5,112 shares of the firm'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 $310,605.12. Following the completion of the sale, the chief financial officer now directly owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. This trade represents a 5.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 40,924 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,486,542.24. Following the sale, the chief executive officer now directly owns 51,342 shares of the company's stock, valued at $3,119,539.92. The trade was a 44.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,599 shares of company stock valued at $7,099,910. 24.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SKX. UBS Group reissued a "neutral" rating and issued a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Morgan Stanley reissued 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 note on Wednesday, May 7th. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Evercore ISI reduced their price objective on 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $70.00.

Skechers U.S.A. Trading Down 0.2%

Shares of SKX traded down $0.15 during midday trading on Friday, reaching $61.91. The company had a trading volume of 7,387,452 shares, compared to its average volume of 3,158,924. 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 $9.26 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The firm has a 50 day simple moving average of $54.39 and a 200-day simple moving average of $62.09. 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. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. Research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal 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.