Twinbeech Capital LP Trims Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Twinbeech Capital LP trimmed its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 98.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,721 shares of the textile maker's stock after selling 201,297 shares during the quarter. Twinbeech Capital LP's holdings in Skechers U.S.A. were worth $250,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. NewEdge Advisors LLC boosted its position 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 acquiring 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 fourth 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 in the last quarter. UMB Bank n.a. lifted its position in Skechers U.S.A. by 53.1% during the fourth 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 lifted its position in Skechers U.S.A. by 62.4% during the fourth 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. purchased a new position in Skechers U.S.A. in the 4th quarter worth approximately $65,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Trading Up 0.3%

Skechers U.S.A. stock traded up $0.17 during trading hours on Tuesday, reaching $62.04. The stock had a trading volume of 8,533,602 shares, compared to its average volume of 3,180,421. The company has a fifty day simple moving average of $54.48 and a 200-day simple moving average of $62.09. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The stock has a market cap of $9.28 billion, a PE ratio of 14.95, a PEG ratio of 1.11 and a beta of 1.06. 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 posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same period last year, the firm earned $1.33 earnings per share. Skechers U.S.A.'s quarterly revenue was up 7.1% on a year-over-year basis. Analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Insider Activity

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. This represents a 5.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 26,913 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $1,635,233.88. Following the completion of the transaction, the chief operating officer now directly owns 44,637 shares of the company's stock, valued at $2,712,144.12. This represents a 37.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,599 shares of company stock valued at $7,099,910. Company insiders own 24.78% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SKX shares. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Bank of America lowered their price target on 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. UBS Group reiterated a "neutral" rating and issued a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Morgan Stanley reaffirmed 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. Finally, Wells Fargo & Company lifted their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $70.00.

Skechers U.S.A. Company 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.