PNC Financial Services Group Inc. decreased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 20.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,093 shares of the textile maker’s stock after selling 1,346 shares during the period. PNC Financial Services Group Inc.’s holdings in Skechers U.S.A. were worth $140,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SKX. Royce & Associates LP increased its stake in shares of Skechers U.S.A. by 1.9% in the first quarter. Royce & Associates LP now owns 527,564 shares of the textile maker’s stock valued at $14,482,000 after buying an additional 9,800 shares during the period. Teachers Advisors LLC increased its stake in shares of Skechers U.S.A. by 99.3% in the first quarter. Teachers Advisors LLC now owns 239,979 shares of the textile maker’s stock valued at $6,587,000 after buying an additional 119,538 shares during the period. NINE MASTS CAPITAL Ltd bought a new stake in shares of Skechers U.S.A. during the first quarter valued at approximately $137,000. Advantus Capital Management Inc increased its stake in shares of Skechers U.S.A. by 3.4% in the first quarter. Advantus Capital Management Inc now owns 17,127 shares of the textile maker’s stock valued at $470,000 after buying an additional 556 shares during the period. Finally, FMR LLC increased its stake in shares of Skechers U.S.A. by 0.3% in the first quarter. FMR LLC now owns 20,061,114 shares of the textile maker’s stock valued at $550,678,000 after buying an additional 62,666 shares during the period. Hedge funds and other institutional investors own 67.86% of the company’s stock.

Skechers U.S.A., Inc. (NYSE SKX) traded down 1.64% during trading on Friday, reaching $26.95. 2,883,019 shares of the company’s stock were exchanged. Skechers U.S.A., Inc. has a 12 month low of $18.81 and a 12 month high of $30.00. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 18.69 and a beta of 0.18. The firm’s 50-day moving average price is $28.45 and its 200-day moving average price is $26.59.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.06. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $966.46 million. During the same period in the prior year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. On average, equities research analysts anticipate that Skechers U.S.A., Inc. will post $1.57 EPS for the current year.

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A number of analysts have recently issued reports on the stock. Cowen and Company set a $35.00 price objective on shares of Skechers U.S.A. and gave the company a “buy” rating in a report on Monday, August 14th. BidaskClub upgraded shares of Skechers U.S.A. from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded shares of Skechers U.S.A. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Vetr downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price objective on the stock. in a report on Tuesday, July 25th. Finally, Wedbush reiterated a “neutral” rating on shares of Skechers U.S.A. in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Skechers U.S.A. has a consensus rating of “Buy” and a consensus target price of $31.10.

In other news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $28.38, for a total transaction of $42,570.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $567,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 21.73% of the company’s stock.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

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

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