Lindenwold Advisors INC Sells 235 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Lindenwold Advisors INC lowered its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,428 shares of the textile maker’s stock after selling 235 shares during the quarter. 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 have also made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of 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 buying an additional 2,594,507 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 acquiring an additional 953,528 shares in the last quarter. Commerce Bank raised its holdings in shares of 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 acquiring an additional 423,204 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 acquiring an additional 287,939 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of 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 purchasing an additional 253,045 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Down 0.6 %

NYSE SKX opened at $57.10 on Wednesday. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85. The company’s 50-day moving average price is $66.32 and its 200-day moving average price is $65.74. The stock has a market cap of $8.53 billion, a PE ratio of 13.76, a PEG ratio of 1.11 and a beta of 1.21. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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%. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Raymond James decreased their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Evercore ISI lifted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Stifel Nicolaus decreased their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, TD Cowen raised their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Insider Activity

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,738 shares of company stock worth $14,700,809. Company insiders own 24.75% of the company’s stock.

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.