Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. reduced its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 4.7% during the fourth quarter, Holdings Channel reports. The firm owned 211,826 shares of the textile maker’s stock after selling 10,424 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Skechers U.S.A. were worth $13,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKX. Advisors Asset Management Inc. acquired a new stake in shares of Skechers U.S.A. during the first quarter valued at approximately $25,000. Fred Alger Management LLC acquired a new position in Skechers U.S.A. in the 1st quarter valued at approximately $26,000. Huntington National Bank increased its stake in Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after buying an additional 517 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Skechers U.S.A. in the 3rd quarter valued at approximately $31,000. Finally, Lazard Asset Management LLC grew its position in Skechers U.S.A. by 117.7% in the third quarter. Lazard Asset Management LLC now owns 651 shares of the textile maker’s stock worth $31,000 after acquiring an additional 352 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SKX has been the subject of several recent research reports. Barclays assumed coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price for the company. Raymond James decreased their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. TD Cowen upped their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Bank of America began coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.58.

Skechers U.S.A. Price Performance

Shares of SKX stock traded up $0.43 during mid-day trading on Tuesday, reaching $56.91. The company’s stock had a trading volume of 825,453 shares, compared to its average volume of 1,558,514. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $65.17. The company has a market cap of $8.72 billion, a P/E ratio of 16.34, a PEG ratio of 1.02 and a beta of 1.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The firm’s 50-day moving average is $59.76 and its two-hundred day moving average is $57.53.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 EPS. On average, research analysts predict that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current year.

Insider Buying and Selling

In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,432 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $58.83, for a total transaction of $378,394.56. Following the sale, the executive vice president now owns 34,023 shares of the company’s stock, valued at approximately $2,001,573.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,432 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $58.83, for a total transaction of $378,394.56. Following the sale, the executive vice president now owns 34,023 shares of the company’s stock, valued at approximately $2,001,573.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 99,139 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the sale, the chief executive officer now directly owns 196,050 shares in the company, valued at approximately $11,345,413.50. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock worth $15,021,192 in the last quarter. 24.79% of the stock is owned by corporate insiders.

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.