Amalgamated Bank Trims Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Amalgamated Bank decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKXFree Report) by 10.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 81,586 shares of the textile maker’s stock after selling 9,942 shares during the period. Amalgamated Bank owned about 0.05% of Skechers U.S.A. worth $4,998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in shares of Skechers U.S.A. by 82.9% during the 1st quarter. Fifth Third Bancorp now owns 1,745 shares of the textile maker’s stock worth $107,000 after acquiring an additional 791 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in shares of Skechers U.S.A. in the 1st quarter worth approximately $25,000. State of Michigan Retirement System grew its stake in shares of Skechers U.S.A. by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 32,844 shares of the textile maker’s stock worth $2,012,000 after buying an additional 800 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Skechers U.S.A. by 19.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 34,391 shares of the textile maker’s stock worth $2,107,000 after buying an additional 5,716 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Skechers U.S.A. by 62.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker’s stock worth $75,534,000 after buying an additional 474,524 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 0.2 %

Shares of Skechers U.S.A. stock traded up $0.16 during trading hours on Tuesday, hitting $68.40. The company’s stock had a trading volume of 1,018,173 shares, compared to its average volume of 1,666,556. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $69.80. The business has a fifty day moving average of $61.96 and a 200 day moving average of $60.34. The company has a market capitalization of $10.43 billion, a PE ratio of 17.92, a P/E/G ratio of 1.20 and a beta of 1.29. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKXGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm posted $1.02 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts forecast that Skechers U.S.A., Inc. will post 4.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SKX shares. TD Cowen increased their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Bank of America started coverage on Skechers U.S.A. in a research report on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective for the company. Stifel Nicolaus cut their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Barclays initiated coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They issued an “overweight” rating and a $71.00 price target for the company. Finally, Wedbush reissued an “outperform” rating and issued a $76.00 price objective on shares of Skechers U.S.A. in a research note on Friday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average price target of $66.83.

View Our Latest Analysis on SKX

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 20,226 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,236,010.86. Following the sale, the chief operating officer now owns 99,655 shares of the company’s stock, valued at approximately $6,089,917.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the transaction, the chief executive officer now directly owns 132,783 shares in the company, valued at $8,114,369.13. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 20,226 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the completion of the transaction, the chief operating officer now owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,914 shares of company stock worth $5,005,765. 24.75% of the stock is currently owned by insiders.

Skechers U.S.A. Profile

(Free Report)

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.

See Also

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

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