Schonfeld Strategic Advisors LLC Sells 3,760 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Schonfeld Strategic Advisors LLC lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 51.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,600 shares of the textile maker’s stock after selling 3,760 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Skechers U.S.A. were worth $242,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position 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 acquiring an additional 190 shares during the period. TD Private Client Wealth LLC raised its stake in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. UMB Bank n.a. lifted its position 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 purchasing an additional 239 shares during the period. IFP Advisors Inc grew its stake 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 worth $55,000 after buying an additional 317 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Skechers U.S.A. in the 4th quarter valued at about $65,000. Institutional investors own 79.96% of the company’s stock.

Insider Transactions 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 completion of the transaction, the executive vice president now owns 25,675 shares of the company’s stock, valued at $1,696,604. This trade represents a 31.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 40,924 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the completion of the transaction, the chief executive officer now owns 51,342 shares in the company, valued at approximately $3,119,539.92. The trade was a 44.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,645 shares of company stock worth $7,895,910. Company insiders own 24.78% of the company’s stock.

Analysts Set New Price Targets

SKX has been the subject of a number of recent analyst reports. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. Barclays restated an “equal weight” rating and set a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their price target on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Bank of America dropped their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, UBS Group reiterated a “neutral” rating and issued a $63.00 target price (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.00.

Skechers U.S.A. Stock Down 0.4%

Shares of NYSE:SKX opened at $62.27 on Wednesday. The firm has a market cap of $9.30 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.11 and a beta of 1.06. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The business has a fifty day simple moving average of $53.53 and a 200 day simple moving average of $62.09. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period 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. Analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.