Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by American International Group Inc.

American International Group Inc. reduced its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 180,537 shares of the textile maker’s stock after selling 8,847 shares during the period. American International Group Inc. owned about 0.12% of Skechers U.S.A. worth $11,255,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SKX. DekaBank Deutsche Girozentrale acquired a new stake in Skechers U.S.A. in the third quarter valued at approximately $31,000. GAMMA Investing LLC acquired a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $36,000. Tradition Wealth Management LLC acquired a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $56,000. Planned Solutions Inc. acquired a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $70,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth approximately $77,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $72.84 on Tuesday. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $75.09. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11.11 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.03 and a beta of 1.28. The stock’s fifty day moving average is $66.20 and its two-hundred day moving average is $62.85.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.23. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 EPS. Equities analysts expect that Skechers U.S.A., Inc. will post 4.08 EPS for the current year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total transaction of $29,377.35. Following the sale, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

SKX has been the topic of a number of research analyst reports. TD Cowen lifted their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 price target on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Bank of America raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $71.00 to $87.00 in a research note on Friday, June 7th. Wedbush reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Skechers U.S.A. in a research note on Friday, May 17th. Finally, Barclays initiated coverage on Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 price target on the stock. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Skechers U.S.A. 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.