Twinbeech Capital LP Has $250,000 Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Twinbeech Capital LP cut its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 98.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,721 shares of the textile maker's stock after selling 201,297 shares during the period. Twinbeech Capital LP's holdings in Skechers U.S.A. were worth $250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Skechers U.S.A. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after purchasing an additional 82,143 shares in the last quarter. Anomaly Capital Management LP increased its holdings in shares of Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after buying an additional 1,011,815 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after purchasing an additional 953,528 shares during the period. Geode Capital Management LLC raised its stake in Skechers U.S.A. by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after purchasing an additional 78,071 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Skechers U.S.A. by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock worth $148,743,000 after purchasing an additional 357,681 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKX has been the subject of a number of research analyst reports. Wall Street Zen initiated coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They set a "sell" rating for the company. Barclays reaffirmed an "equal weight" rating and set a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Wells Fargo & Company raised their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Bank of America lowered their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $67.69.

Insider Buying and Selling at Skechers U.S.A.

In related news, COO David Weinberg sold 26,913 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $1,635,233.88. Following the transaction, the chief operating officer now owns 44,637 shares in the company, valued at approximately $2,712,144.12. This represents a 37.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Greenberg sold 33,656 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the completion of the transaction, the president now owns 137,530 shares in the company, valued at approximately $8,356,322.80. This trade represents a 19.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,599 shares of company stock worth $7,099,910. Insiders own 24.78% of the company's stock.

Skechers U.S.A. Stock Up 0.0%

SKX traded up $0.03 during trading on Thursday, hitting $62.01. The company had a trading volume of 4,898,671 shares, compared to its average volume of 3,203,055. The company has a market capitalization of $9.28 billion, a PE ratio of 14.94, a PEG ratio of 1.11 and a beta of 1.06. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The firm's 50-day moving average price is $54.71 and its 200 day moving average price is $62.08. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

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

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.