Savant Capital LLC Sells 5,556 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Savant Capital LLC lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 29.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,234 shares of the textile maker’s stock after selling 5,556 shares during the quarter. Savant Capital LLC’s holdings in Skechers U.S.A. were worth $890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKX. CWM LLC lifted its holdings in shares of Skechers U.S.A. by 4.4% during the 3rd quarter. CWM LLC now owns 10,637 shares of the textile maker’s stock valued at $712,000 after purchasing an additional 451 shares in the last quarter. Blue Trust Inc. lifted its stake in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after buying an additional 887 shares in the last quarter. Raymond James & Associates lifted its stake in Skechers U.S.A. by 192.7% in the third quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock valued at $3,518,000 after buying an additional 34,612 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Skechers U.S.A. by 22.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 46,288 shares of the textile maker’s stock valued at $3,098,000 after buying an additional 8,564 shares during the period. Finally, Private Advisor Group LLC bought a new stake in shares of Skechers U.S.A. during the third quarter worth $289,000. 79.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SKX shares. Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target on the stock. Morgan Stanley upped their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. UBS Group lowered their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Stifel Nicolaus decreased their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Stock Performance

SKX opened at $63.99 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The business has a fifty day simple moving average of $70.16 and a 200 day simple moving average of $66.46. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The company has a market capitalization of $9.66 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. Research analysts expect that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the transaction, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,093 shares of company stock valued at $6,804,900. 24.75% of the stock is currently owned by company insiders.

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.