Victory Capital Management Inc. Has $1.67 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Victory Capital Management Inc. lessened its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 82.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,882 shares of the textile maker’s stock after selling 114,011 shares during the quarter. Victory Capital Management Inc.’s holdings in Skechers U.S.A. were worth $1,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SKX. Pacer Advisors Inc. increased its position in Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the period. Bank of New York Mellon Corp increased its position in Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after purchasing an additional 953,528 shares during the period. Commerce Bank increased its position in Skechers U.S.A. by 949.5% during the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after purchasing an additional 423,204 shares during the period. Wellington Management Group LLP increased its position in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after purchasing an additional 287,939 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Skechers U.S.A. by 68.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock worth $41,940,000 after buying an additional 253,045 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SKX. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Stifel Nicolaus cut their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Raymond James cut their price target on 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. TD Cowen increased their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, UBS Group cut their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.25.

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

In related news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the company’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 sale, the general counsel now 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 disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 over the last three months. 24.75% of the stock is currently owned by insiders.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $57.10 on Wednesday. Skechers U.S.A., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company has a fifty day moving average price of $66.32 and a 200-day moving average price of $65.74. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.