Lindenwold Advisors INC Cuts Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Lindenwold Advisors INC lessened its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 6,428 shares of the textile maker’s stock after selling 235 shares during the period. Lindenwold Advisors INC’s holdings in Skechers U.S.A. were worth $432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after buying an additional 953,528 shares during the last quarter. Commerce Bank grew its stake in Skechers U.S.A. by 949.5% during the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock worth $31,303,000 after buying an additional 423,204 shares during the last quarter. Wellington Management Group LLP increased its position in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after buying an additional 287,939 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Skechers U.S.A. by 68.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock valued at $41,940,000 after buying an additional 253,045 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction 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 sale, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,738 shares of company stock worth $14,700,809. Insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays dropped 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 note on Monday, February 10th. TD Cowen boosted 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 research report on Wednesday, January 8th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Evercore ISI boosted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Piper Sandler initiated coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Skechers U.S.A. Stock Down 0.6 %

SKX opened at $57.10 on Wednesday. The company has a fifty day moving average of $66.32 and a two-hundred day moving average of $65.74. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

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

About Skechers U.S.A.

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.