QRG Capital Management Inc. Has $708,000 Stake in Skechers U.S.A., Inc. (NYSE:SKX)

QRG Capital Management Inc. reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,524 shares of the textile maker’s stock after selling 633 shares during the period. QRG Capital Management Inc.’s holdings in Skechers U.S.A. were worth $708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sanctuary Advisors LLC raised its position in shares of Skechers U.S.A. by 88.1% during the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after acquiring an additional 13,836 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Skechers U.S.A. by 22.3% during the 3rd quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after purchasing an additional 25,289 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after purchasing an additional 67,812 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after purchasing an additional 17,429 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after buying an additional 15,874 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This trade represents a 42.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock valued at $14,700,809 over the last 90 days. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Down 1.3 %

Shares of NYSE SKX opened at $57.74 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company has a 50-day moving average price of $68.53 and a 200-day moving average price of $66.52. The stock has a market capitalization 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 1 year low of $55.67 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last released its quarterly 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 net margin of 7.13% and a return on equity of 13.73%. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Raymond James decreased their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Evercore ISI boosted their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

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.