PNC Financial Services Group Inc. Sells 187 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

PNC Financial Services Group Inc. cut its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,038 shares of the textile maker’s stock after selling 187 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Skechers U.S.A. were worth $314,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Skechers U.S.A. in the 4th quarter worth about $36,000. Tradition Wealth Management LLC bought a new position in Skechers U.S.A. during the fourth quarter valued at approximately $56,000. Planned Solutions Inc. purchased a new stake in Skechers U.S.A. in the fourth quarter worth approximately $70,000. Meeder Asset Management Inc. bought a new stake in Skechers U.S.A. in the 4th quarter worth approximately $77,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Skechers U.S.A. by 29.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,683 shares of the textile maker’s stock valued at $167,000 after buying an additional 603 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 423 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the transaction, the general counsel now owns 35,000 shares of the company’s stock, valued at $2,430,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Trading Down 1.0 %

Shares of Skechers U.S.A. stock opened at $69.12 on Friday. Skechers U.S.A., Inc. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. The company has a market capitalization of $10.54 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.00 and a beta of 1.28. The company has a fifty day moving average of $68.94 and a 200 day moving average of $63.60.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 earnings per share. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a report on Thursday, June 13th. TD Cowen increased their price objective on shares of 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. Evercore ISI cut their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Stifel Nicolaus increased their price target on shares of Skechers U.S.A. from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Barclays initiated coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They set 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 issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.