Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 29.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 10,455 shares of the textile maker's stock after selling 4,445 shares during the period. Integrated Advisors Network LLC's holdings in Skechers U.S.A. were worth $594,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SKX. Mirae Asset Global Investments Co. Ltd. purchased a new position in Skechers U.S.A. during the fourth quarter worth approximately $65,000. Stephens Inc. AR purchased a new position in Skechers U.S.A. during the fourth quarter worth approximately $632,000. Kestra Private Wealth Services LLC raised its stake in Skechers U.S.A. by 58.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,501 shares of the textile maker's stock worth $437,000 after purchasing an additional 2,405 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Skechers U.S.A. by 30.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,256 shares of the textile maker's stock worth $4,052,000 after purchasing an additional 13,968 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in Skechers U.S.A. during the fourth quarter worth approximately $326,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

SKX has been the topic of a number of research reports. Raymond James downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Morgan Stanley reissued an "equal weight" rating and issued a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Barclays reissued an "equal weight" rating and issued a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Evercore ISI cut 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 note on Thursday, April 17th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of "Hold" and an average price target of $67.69.

Skechers U.S.A. Stock Down 0.3%

SKX traded down $0.21 during trading hours on Friday, reaching $62.50. 6,573,844 shares of the stock traded hands, compared to its average volume of 3,383,187. The firm's fifty day simple moving average is $56.57 and its two-hundred day simple moving average is $62.15. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.11 and a beta of 1.13. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. 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 released its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business's revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $1.33 EPS. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share 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.