Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC lowered its position in Skechers U.S.A., Inc. (NYSE:SKXGet Rating) by 26.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,014 shares of the textile maker’s stock after selling 2,466 shares during the period. Cornerstone Investment Partners LLC’s holdings in Skechers U.S.A. were worth $222,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SKX. American Century Companies Inc. raised its position in shares of Skechers U.S.A. by 10.8% in the first quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock worth $689,000 after acquiring an additional 1,654 shares during the period. US Bancorp DE raised its position in shares of Skechers U.S.A. by 71.1% during the 1st quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock worth $98,000 after purchasing an additional 1,004 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Skechers U.S.A. by 11.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock worth $260,000 after purchasing an additional 663 shares during the last quarter. Bank of Montreal Can raised its position in shares of Skechers U.S.A. by 8.6% during the 1st quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock worth $519,000 after purchasing an additional 990 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Skechers U.S.A. by 34.4% during the 1st quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock worth $3,580,000 after purchasing an additional 22,464 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Insider Buying and Selling

In related news, COO David Weinberg sold 8,403 shares of Skechers U.S.A. stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total transaction of $355,362.87. Following the sale, the chief operating officer now directly owns 124,419 shares in the company, valued at approximately $5,261,679.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO David Weinberg sold 8,403 shares of Skechers U.S.A. stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total transaction of $355,362.87. Following the sale, the chief operating officer now directly owns 124,419 shares in the company, valued at approximately $5,261,679.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katherine J. Blair sold 1,500 shares of Skechers U.S.A. stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $35.16, for a total transaction of $52,740.00. Following the sale, the director now owns 10,500 shares in the company, valued at $369,180. The disclosure for this sale can be found here. Insiders have sold 20,967 shares of company stock worth $876,358 in the last ninety days. 24.44% of the stock is owned by corporate insiders.

Skechers U.S.A. Price Performance

Shares of SKX opened at $48.49 on Wednesday. Skechers U.S.A., Inc. has a twelve month low of $31.28 and a twelve month high of $49.89. The firm’s fifty day simple moving average is $42.86 and its 200-day simple moving average is $38.87. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 10.87 and a beta of 1.29. The company has a current ratio of 2.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06.

Skechers U.S.A. (NYSE:SKXGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The textile maker reported $0.55 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.19). Skechers U.S.A. had a return on equity of 10.03% and a net margin of 9.70%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. Equities analysts forecast that Skechers U.S.A., Inc. will post 2.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on SKX. Deutsche Bank Aktiengesellschaft upped their price target on shares of Skechers U.S.A. from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday. Cowen upgraded shares of Skechers U.S.A. from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $65.00 in a research report on Monday. Raymond James upped their price target on shares of Skechers U.S.A. from $40.00 to $48.00 in a research report on Thursday, December 1st. Wedbush reduced their price target on shares of Skechers U.S.A. from $42.00 to $37.00 in a research report on Wednesday, October 26th. Finally, StockNews.com assumed coverage on shares of Skechers U.S.A. in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Skechers U.S.A. Company Profile

(Get Rating)

Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.

See Also

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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