M&T Bank Corp Sells 11,156 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

M&T Bank Corp decreased its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 29.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,068 shares of the textile maker's stock after selling 11,156 shares during the quarter. M&T Bank Corp's holdings in Skechers U.S.A. were worth $1,687,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Huntington National Bank lifted its position in shares of Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker's stock valued at $28,000 after acquiring an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Skechers U.S.A. during the third quarter valued at $31,000. GAMMA Investing LLC acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at $36,000. Planned Solutions Inc. purchased a new position in Skechers U.S.A. in the 4th quarter worth about $70,000. Finally, Meeder Asset Management Inc. acquired a new stake in Skechers U.S.A. during the 4th quarter worth about $77,000. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Down 0.4 %

SKX stock traded down $0.29 during trading hours on Friday, hitting $67.78. The company's stock had a trading volume of 973,840 shares, compared to its average volume of 1,713,250. The stock has a 50 day moving average price of $60.89 and a two-hundred day moving average price of $59.14. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $69.07. The company has a market capitalization of $10.39 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The firm had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the prior year, the company posted $1.02 earnings per share. Skechers U.S.A.'s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts expect that Skechers U.S.A., Inc. will post 4.07 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 30,339 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the sale, the chief executive officer now directly owns 132,783 shares in the company, valued at $8,114,369.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Skechers U.S.A. news, President Michael Greenberg sold 25,282 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,544,983.02. Following the sale, the president now owns 123,441 shares of the company's stock, valued at approximately $7,543,479.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Greenberg sold 30,339 shares of Skechers U.S.A. stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the transaction, the chief executive officer now directly owns 132,783 shares in the company, valued at $8,114,369.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,914 shares of company stock valued at $5,005,765. Corporate insiders own 24.75% of the company's stock.

Analysts Set New Price Targets

SKX has been the topic of several analyst reports. Wedbush lifted their target price on shares of Skechers U.S.A. from $68.00 to $76.00 and gave the stock an "outperform" rating in a research report on Friday, April 26th. Evercore ISI reduced their target price on Skechers U.S.A. from $73.00 to $68.00 and set an "outperform" rating for the company in a report on Wednesday, April 17th. Bank of America began coverage on Skechers U.S.A. in a report on Friday, March 8th. They set a "neutral" rating and a $67.00 price target on the stock. Raymond James reduced their price objective on Skechers U.S.A. from $68.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, February 5th. Finally, Monness Crespi & Hardt lifted their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of "Moderate Buy" and an average target price of $66.83.

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.