Amalgamated Bank Has $5.71 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Amalgamated Bank decreased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 8.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 91,528 shares of the textile maker’s stock after selling 8,552 shares during the period. Amalgamated Bank owned 0.06% of Skechers U.S.A. worth $5,706,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Huntington National Bank boosted its holdings in Skechers U.S.A. by 861.7% during the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after purchasing an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Skechers U.S.A. during the third quarter worth $31,000. GAMMA Investing LLC bought a new position in Skechers U.S.A. in the 4th quarter valued at about $36,000. Planned Solutions Inc. acquired a new stake in Skechers U.S.A. during the fourth quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Skechers U.S.A. during the fourth quarter worth approximately $77,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $66.81 on Tuesday. Skechers U.S.A., Inc. has a 1 year low of $45.58 and a 1 year high of $69.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. The company has a market capitalization of $10.24 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.17 and a beta of 1.29. The business has a 50 day moving average of $60.55 and a 200-day moving average of $58.90.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company earned $1.02 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.07 earnings per share for the current year.

Insider Buying and Selling

In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the transaction, the chief executive officer now directly owns 132,783 shares in the company, valued at approximately $8,114,369.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO David Weinberg sold 67,390 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the sale, the chief operating officer now directly owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the transaction, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock valued at $15,021,192 over the last 90 days. Company insiders own 24.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SKX shares. Wedbush increased their target price on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Evercore ISI reduced their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. TD Cowen raised their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Bank of America assumed coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.83.

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.