Pzena Investment Management LLC Trims Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Pzena Investment Management LLC lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 83.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 469,476 shares of the textile maker’s stock after selling 2,295,729 shares during the period. Pzena Investment Management LLC’s holdings in Skechers U.S.A. were worth $29,267,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank grew its stake in Skechers U.S.A. by 861.7% during the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Skechers U.S.A. in the 3rd quarter worth approximately $31,000. GAMMA Investing LLC purchased a new position in Skechers U.S.A. in the 4th quarter worth approximately $36,000. Planned Solutions Inc. bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling at Skechers U.S.A.

In other news, COO David Weinberg sold 20,226 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,236,010.86. Following the transaction, the chief operating officer now owns 99,655 shares in the company, valued at approximately $6,089,917.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skechers U.S.A. news, President Michael Greenberg sold 25,282 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the sale, the president now owns 123,441 shares in the company, valued at approximately $7,543,479.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 20,226 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the sale, the chief operating officer now directly owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,914 shares of company stock worth $5,005,765. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Down 0.5 %

Shares of NYSE:SKX traded down $0.35 during midday trading on Thursday, reaching $67.50. The company’s stock had a trading volume of 216,920 shares, compared to its average volume of 1,645,612. The firm has a 50 day moving average of $62.22 and a 200-day moving average of $60.54. The firm has a market capitalization of $10.30 billion, a P/E ratio of 17.86, a PEG ratio of 1.20 and a beta of 1.29. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $69.80.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 EPS. On average, research analysts anticipate that Skechers U.S.A., Inc. will post 4.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. TD Cowen upped their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wedbush reiterated an “outperform” rating and set a $76.00 price target on shares of Skechers U.S.A. in a report on Friday, May 17th. Barclays assumed coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target for the company. Finally, Raymond James lowered their price target on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.83.

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.