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

Y Intercept Hong Kong Ltd lowered its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 55.5% during the fourth quarter, Holdings Channel reports. The firm 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 filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management increased its position in Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after buying an additional 155 shares during the period. Calamos Wealth Management LLC boosted its stake in Skechers U.S.A. by 0.9% during the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after purchasing an additional 157 shares during the period. Lindenwold Advisors INC grew its position in Skechers U.S.A. by 3.0% during the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after purchasing an additional 195 shares during the last quarter. Blue Trust Inc. increased its stake in Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after purchasing an additional 207 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Skechers U.S.A. by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 4,166 shares of the textile maker’s stock valued at $280,000 after buying an additional 213 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,139 shares of company stock worth $7,600,899 over the last ninety days. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $61.01 on Friday. The business has a 50-day moving average of $68.91 and a two-hundred day moving average of $66.59. The firm has a market capitalization of $9.21 billion, a PE ratio of 14.70, a P/E/G ratio of 1.11 and a beta of 1.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SKX shares. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. TD Cowen boosted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Barclays dropped their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, UBS Group decreased their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

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.