Brandywine Global Investment Management LLC Decreases Position in Skechers U.S.A., Inc. (NYSE:SKX)

Brandywine Global Investment Management LLC trimmed its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,185 shares of the textile maker’s stock after selling 5,950 shares during the quarter. Brandywine Global Investment Management LLC owned 0.05% of Skechers U.S.A. worth $5,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its stake in shares of Skechers U.S.A. by 88.1% during the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after acquiring an additional 13,836 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Skechers U.S.A. during the 4th quarter valued at approximately $12,852,000. National Bank of Canada FI raised its holdings in shares of Skechers U.S.A. by 2,340.0% in the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after buying an additional 67,812 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after buying an additional 15,874 shares during the period. Finally, Nordea Investment Management AB purchased a new stake in shares of Skechers U.S.A. during the fourth quarter valued at $2,752,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SKX. Barclays lowered their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Bank of America reduced their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Raymond James dropped their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.42.

Skechers U.S.A. Stock Up 1.2 %

Shares of SKX opened at $57.47 on Wednesday. The firm has a market cap of $8.58 billion, a P/E ratio of 13.85, a PEG ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85. The stock’s 50 day moving average is $63.69 and its two-hundred day moving average is $65.07. 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 issued its quarterly earnings results 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 return on equity of 13.73% and a net margin of 7.13%. Analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares in the company, valued at $5,063,009.28. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock worth $13,452,902 in the last 90 days. 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.