Mutual of America Capital Management LLC Sells 2,121 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Mutual of America Capital Management LLC reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,514 shares of the textile maker’s stock after selling 2,121 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Skechers U.S.A. were worth $4,674,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. grew its position in shares of Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 239 shares during the last quarter. IFP Advisors Inc boosted its stake in Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares during the period. Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Skechers U.S.A. in the 4th quarter valued at $65,000. Finally, Brooklyn Investment Group bought a new position in Skechers U.S.A. during the 3rd quarter worth $67,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. TD Cowen raised their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. 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. Finally, Barclays reduced 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 report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Insider Transactions at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares in the company, valued at $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is currently owned by insiders.

Skechers U.S.A. Stock Down 1.3 %

Shares of SKX opened at $57.74 on Wednesday. The firm has a 50 day simple moving average of $68.53 and a two-hundred day simple moving average of $66.52. The company has a market cap of $8.72 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.11 and a beta of 1.19. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. 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. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 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%. Research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal 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.