Polymer Capital Management HK LTD Reduces Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Polymer Capital Management HK LTD lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 70.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,674 shares of the textile maker’s stock after selling 23,026 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Skechers U.S.A. were worth $650,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its position in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares during the period. UMB Bank n.a. grew its holdings in Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares during the period. IFP Advisors Inc raised its position in Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Skechers U.S.A. during the fourth quarter valued at approximately $65,000. Finally, Blue Trust Inc. lifted its holdings in Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after acquiring an additional 207 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 2.7 %

Shares of SKX stock opened at $50.29 on Monday. Skechers U.S.A., Inc. has a fifty-two week low of $45.69 and a fifty-two week high of $78.85. The firm has a market capitalization of $7.51 billion, a P/E ratio of 12.12, a PEG ratio of 1.11 and a beta of 1.08. The stock’s fifty day moving average is $62.35 and its two-hundred day moving average is $64.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the sale, the chief financial officer now directly owns 83,328 shares of the company’s stock, valued at $5,063,009.28. This trade represents a 5.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. The trade was a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock worth $13,452,902 in the last ninety days. Insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James dropped their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Barclays reduced their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, UBS Group dropped their price objective on 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.42.

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.