Skechers U.S.A., Inc. (NYSE:SKX) Stake Reduced by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has reduced its stake in Skechers U.S.A. by 44.9%, owning approximately 112,113 shares valued at about $6.37 million after selling 91,297 shares in the first quarter.
• Research analysts have recently downgraded Skechers U.S.A. ratings, with Monness Crespi & Hardt changing their assessment from "strong-buy" to "hold".
• Skechers U.S.A. shares are currently trading around $63.07, with an average target price of $66.75 according to market analysts.

Natixis Advisors LLC decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 44.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,113 shares of the textile maker's stock after selling 91,297 shares during the period. Natixis Advisors LLC owned about 0.08% of Skechers U.S.A. worth $6,366,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SKX. NewEdge Advisors LLC boosted its stake in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $32,000. Parallel Advisors LLC raised its holdings in Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after acquiring an additional 399 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Skechers U.S.A. during the 1st quarter valued at $35,000. Finally, Abound Financial LLC acquired a new position in Skechers U.S.A. during the 1st quarter worth $35,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

SKX stock traded down $0.05 during trading on Thursday, hitting $63.04. The company had a trading volume of 1,466,148 shares, compared to its average volume of 4,660,328. The business has a 50 day moving average of $62.86 and a 200 day moving average of $60.66. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 15.15 and a beta of 1.16. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

Wall Street Analyst Weigh In

SKX has been the subject of a number of research reports. 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. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Barclays restated an "equal weight" rating and set a $63.00 price objective (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wall Street Zen started coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They set a "sell" rating for the company. Finally, Raymond James Financial lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $66.75.

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.