GAMMA Investing LLC Sells 164 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

GAMMA Investing LLC lessened its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 7.4% in the fourth quarter, HoldingsChannel reports. The fund owned 2,051 shares of the textile maker’s stock after selling 164 shares during the period. GAMMA Investing LLC’s holdings in Skechers U.S.A. were worth $138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SKX. UMB Bank n.a. lifted its holdings in 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 worth $30,000 after purchasing an additional 364 shares during the last quarter. Venturi Wealth Management LLC increased its position in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after buying an additional 299 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Skechers U.S.A. during the third quarter worth $67,000. Blue Trust Inc. boosted its position in shares of Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 887 shares during the period. Finally, Quarry LP grew its stake in shares of Skechers U.S.A. by 44.6% in the second quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock valued at $82,000 after acquiring an additional 366 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Insiders Place Their Bets

In related news, COO David Weinberg sold 8,219 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now directly owns 149,327 shares of the company’s stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SKX. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating on the stock. Bank of America lowered their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays raised their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.42.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $69.23 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $65.89 and a two-hundred day simple moving average of $65.68. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Skechers U.S.A. 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.