Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 12.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 853,524 shares of the textile maker's stock after selling 116,435 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.57% of Skechers U.S.A. worth $57,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Spire Wealth Management lifted its holdings in shares of Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after buying an additional 155 shares during the period. Calamos Wealth Management LLC boosted its position in Skechers U.S.A. by 0.9% in the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock worth $1,228,000 after purchasing an additional 157 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Skechers U.S.A. by 1.2% during the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after purchasing an additional 172 shares during the period. NewEdge Advisors LLC increased its holdings 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 purchasing an additional 190 shares in the last quarter. Finally, Independent Advisor Alliance lifted its stake in shares of Skechers U.S.A. by 4.7% in the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock valued at $302,000 after purchasing an additional 200 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on SKX shares. Evercore ISI dropped their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Monness Crespi & Hardt dropped their target price on Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. TD Cowen raised their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, Bank of America decreased their target price 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. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.62.

Insider Activity at Skechers U.S.A.

In related news, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total transaction of $795,999.68. Following the sale, the executive vice president now directly owns 25,675 shares in the company, valued at $1,696,604. This trade represents a 31.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares of the company's stock, valued at $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock valued at $13,452,902 over the last quarter. 24.78% of the stock is owned by insiders.

Skechers U.S.A. Stock Down 2.0 %

NYSE SKX traded down $0.99 during trading hours on Wednesday, hitting $47.69. 2,335,308 shares of the company were exchanged, compared to its average volume of 2,294,255. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.11 and a beta of 1.08. The company has a 50 day moving average of $54.11 and a two-hundred day moving average of $62.42. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter last year, the company earned $1.33 earnings per share. The firm's revenue was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.