Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 81.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,839 shares of the textile maker’s stock after selling 257,935 shares during the period. Ensign Peak Advisors Inc’s holdings in Skechers U.S.A. were worth $3,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management raised its position in Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after acquiring an additional 155 shares during the last quarter. Calamos Wealth Management LLC raised its position in Skechers U.S.A. by 0.9% during the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after acquiring an additional 157 shares during the last quarter. Cerity Partners LLC raised its position in Skechers U.S.A. by 1.2% during the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock worth $947,000 after acquiring an additional 172 shares during the last quarter. NewEdge Advisors LLC raised its position in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in Skechers U.S.A. by 4.7% during the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock worth $302,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $849,450. The trade was a 42.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the sale, the chief financial officer now owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,645 shares of company stock worth $7,895,910. 24.78% of the stock is owned by company insiders.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $62.15 on Thursday. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The firm has a 50 day moving average price of $53.59 and a 200 day moving average price of $62.09. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. Skechers U.S.A.’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SKX. StockNews.com began coverage on shares of Skechers U.S.A. in a research report on Wednesday. They set a “sell” rating for the company. Raymond James cut shares of Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 5th. Evercore ISI cut their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. UBS Group reissued a “neutral” rating and issued a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Finally, Barclays reissued an “equal weight” rating and issued a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.00.

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.