Pinebridge Investments L.P. Lowers Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Pinebridge Investments L.P. lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 63.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,630 shares of the textile maker's stock after selling 19,853 shares during the period. Pinebridge Investments L.P.'s holdings in Skechers U.S.A. were worth $782,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

SKX has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of Skechers U.S.A. from $80.00 to $73.00 and set an "overweight" rating for the company in a report on Friday, April 25th. UBS Group cut their price objective on Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating on the stock in a report on Monday, April 14th. StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Stifel Nicolaus cut their price target on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Evercore ISI dropped their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.62.

Skechers U.S.A. Trading Down 0.6 %

NYSE SKX traded down $0.27 during mid-day trading on Thursday, reaching $47.75. 2,574,804 shares of the stock were exchanged, compared to its average volume of 2,304,063. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market cap of $7.13 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.11 and a beta of 1.08. The stock has a 50 day simple moving average of $53.81 and a 200-day simple moving average of $62.32. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85.

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 earnings per share 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 firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company posted $1.33 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the sale, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock worth $13,452,902 in the last quarter. 24.78% of the stock is owned by corporate insiders.

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.