Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Broad Peak Investment Holdings Ltd.

Broad Peak Investment Holdings Ltd. trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 43.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 970,918 shares of the textile maker's stock after selling 756,500 shares during the period. Skechers U.S.A. makes up 9.8% of Broad Peak Investment Holdings Ltd.'s investment portfolio, making the stock its 3rd largest holding. Broad Peak Investment Holdings Ltd. owned about 0.63% of Skechers U.S.A. worth $60,527,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SKX. Advisors Asset Management Inc. bought a new position in shares of Skechers U.S.A. in the 1st quarter worth $25,000. Fred Alger Management LLC bought a new stake in shares of Skechers U.S.A. during the first quarter worth about $26,000. Huntington National Bank raised its holdings in shares of Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker's stock worth $28,000 after acquiring an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Skechers U.S.A. in the 3rd quarter valued at about $31,000. Finally, Lazard Asset Management LLC boosted its stake in Skechers U.S.A. by 117.7% during the 3rd quarter. Lazard Asset Management LLC now owns 651 shares of the textile maker's stock valued at $31,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stifel Nicolaus dropped their target price on Skechers U.S.A. from $72.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, February 2nd. TD Cowen upped their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Wedbush decreased their price objective on shares of Skechers U.S.A. from $75.00 to $68.00 and set an "outperform" rating for the company in a research note on Friday, February 2nd. Monness Crespi & Hardt boosted their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, January 18th. Finally, Barclays began coverage on Skechers U.S.A. in a research report on Monday. They set an "overweight" rating and a $71.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.58.

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

In related news, EVP Mark A. Nason sold 6,432 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $58.83, for a total transaction of $378,394.56. Following the sale, the executive vice president now owns 34,023 shares of the company's stock, valued at approximately $2,001,573.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mark A. Nason sold 6,432 shares of the business's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $58.83, for a total transaction of $378,394.56. Following the completion of the transaction, the executive vice president now owns 34,023 shares of the company's stock, valued at $2,001,573.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark A. Nason sold 6,067 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $370,754.37. Following the completion of the sale, the executive vice president now owns 14,023 shares in the company, valued at $856,945.53. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock valued at $15,021,192 in the last 90 days. 24.79% of the stock is currently owned by company insiders.

Skechers U.S.A. Stock Performance

Shares of SKX stock traded down $0.08 on Friday, hitting $58.00. 1,062,155 shares of the stock were exchanged, compared to its average volume of 1,589,578. The firm's 50 day moving average is $60.36 and its two-hundred day moving average is $56.91. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $65.17. The firm has a market capitalization of $8.89 billion, a PE ratio of 16.62, a P/E/G ratio of 1.06 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $0.48 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts expect that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current fiscal 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.