Man Group plc Sells 197,659 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Man Group plc lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,936 shares of the textile maker's stock after selling 197,659 shares during the period. Man Group plc owned approximately 0.10% of Skechers U.S.A. worth $10,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Spire Wealth Management increased its holdings in Skechers U.S.A. by 11.6% during the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after acquiring an additional 155 shares during the period. Calamos Wealth Management LLC increased its holdings in shares of Skechers U.S.A. by 0.9% in the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock worth $1,228,000 after buying an additional 157 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Skechers U.S.A. by 1.2% in the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after buying an additional 172 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Skechers U.S.A. by 4.7% in the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock worth $302,000 after buying an additional 200 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stifel Nicolaus decreased their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Raymond James cut 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 reaffirmed an "equal weight" rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Wall Street Zen assumed coverage on shares of Skechers U.S.A. in a research note on Thursday. They issued a "sell" rating for the company. Finally, Monness Crespi & Hardt cut shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. presently has a consensus rating of "Hold" and a consensus target price of $70.00.

Skechers U.S.A. Trading Down 0.2%

NYSE SKX traded down $0.15 during trading on Friday, hitting $61.91. The company had a trading volume of 7,387,452 shares, compared to its average volume of 3,158,924. 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., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company's fifty day moving average is $54.39 and its 200-day moving average is $62.10.

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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business earned $1.33 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Greenberg sold 40,924 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the completion of the transaction, the chief executive officer now owns 51,342 shares of the company's stock, valued at approximately $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 worth $7,099,910. 24.78% of the stock is currently owned by corporate insiders.

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.