Rhumbline Advisers Sells 9,325 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Rhumbline Advisers trimmed its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 369,144 shares of the textile maker's stock after selling 9,325 shares during the period. Rhumbline Advisers owned 0.25% of Skechers U.S.A. worth $20,960,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SKX. Cascade Investment Advisors Inc. lifted its holdings in shares of Skechers U.S.A. by 4.1% during the 1st quarter. Cascade Investment Advisors Inc. now owns 25,925 shares of the textile maker's stock worth $1,472,000 after acquiring an additional 1,025 shares during the last quarter. Delphi Management Inc. MA lifted its holdings in shares of Skechers U.S.A. by 1.0% during the 1st quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker's stock worth $1,294,000 after acquiring an additional 236 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after acquiring an additional 399 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Skechers U.S.A. by 9,033.0% during the 1st quarter. GAMMA Investing LLC now owns 187,317 shares of the textile maker's stock worth $10,636,000 after acquiring an additional 185,266 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Skechers U.S.A. by 6.3% during the 4th quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker's stock worth $73,319,000 after acquiring an additional 64,857 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SKX has been the subject of a number of research analyst reports. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective for the company. in a report on Wednesday, May 28th. UBS Group reiterated a "neutral" rating and issued a $63.00 target price (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Raymond James cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Bank of America decreased their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Monness Crespi & Hardt cut shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Trading Up 0.7%

Shares of SKX stock traded up $0.47 during mid-day trading on Tuesday, reaching $62.58. The stock had a trading volume of 5,775,420 shares, compared to its average volume of 3,323,988. The stock's 50-day moving average price is $55.69 and its two-hundred day moving average price is $62.17. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The firm has a market capitalization of $9.36 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the company earned $1.33 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share 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.