Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 51.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 758,227 shares of the textile maker’s stock after selling 812,205 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Skechers U.S.A. were worth $50,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its stake in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after buying an additional 364 shares during the last quarter. Versant Capital Management Inc raised its position in Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 618 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 299 shares during the period. Blue Trust Inc. boosted its position in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Skechers U.S.A. in the 2nd quarter worth approximately $69,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Up 0.2 %

Shares of SKX stock opened at $63.82 on Monday. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The stock’s fifty day moving average is $63.39 and its two-hundred day moving average is $66.06. The firm has a market capitalization of $9.64 billion, a P/E ratio of 15.72, a PEG ratio of 0.89 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. Research analysts expect that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SKX shares. Morgan Stanley boosted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays increased their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Bank of America cut their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Needham & Company LLC initiated coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.09.

About Skechers U.S.A.

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.