Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 55.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,034 shares of the textile maker’s stock after selling 11,285 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Skechers U.S.A. were worth $607,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. ING Groep NV raised its stake in Skechers U.S.A. by 70.0% during the fourth quarter. ING Groep NV now owns 154,900 shares of the textile maker’s stock worth $10,415,000 after purchasing an additional 63,800 shares during the period. Ieq Capital LLC acquired a new stake in shares of Skechers U.S.A. during the 4th quarter worth approximately $1,695,000. Alberta Investment Management Corp raised its position in shares of Skechers U.S.A. by 9.3% during the 4th quarter. Alberta Investment Management Corp now owns 15,794 shares of the textile maker’s stock valued at $1,062,000 after buying an additional 1,341 shares during the period. Bfsg LLC lifted its holdings in Skechers U.S.A. by 1,519.6% in the fourth quarter. Bfsg LLC now owns 101,487 shares of the textile maker’s stock valued at $6,824,000 after acquiring an additional 95,221 shares during the last quarter. Finally, Kestra Investment Management LLC grew its position in Skechers U.S.A. by 33.8% in the fourth quarter. Kestra Investment Management LLC now owns 18,609 shares of the textile maker’s stock worth $1,251,000 after acquiring an additional 4,700 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analysts Set New Price Targets

SKX has been the topic of several recent analyst reports. Barclays decreased their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Evercore ISI increased their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Raymond James dropped their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.25.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction on 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 sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,139 shares of company stock valued at $7,600,899 over the last 90 days. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Stock Up 0.4 %

Skechers U.S.A. stock opened at $61.01 on Friday. The firm has a market capitalization of $9.21 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.11 and a beta of 1.19. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85. The stock’s fifty day simple moving average is $68.91 and its 200-day simple moving average is $66.59.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.