Cynosure Group LLC Sells 1,239 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Cynosure Group LLC lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 21.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,505 shares of the textile maker’s stock after selling 1,239 shares during the quarter. Cynosure Group LLC’s holdings in Skechers U.S.A. were worth $303,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cinctive Capital Management LP boosted its holdings in Skechers U.S.A. by 621.7% in the fourth quarter. Cinctive Capital Management LP now owns 35,168 shares of the textile maker’s stock valued at $2,365,000 after acquiring an additional 30,295 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Skechers U.S.A. by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker’s stock worth $154,361,000 after purchasing an additional 78,071 shares during the period. Nemes Rush Group LLC purchased a new stake in shares of Skechers U.S.A. in the 4th quarter worth about $190,000. Franklin Resources Inc. boosted its stake in shares of Skechers U.S.A. by 7.5% during the 4th quarter. Franklin Resources Inc. now owns 177,663 shares of the textile maker’s stock valued at $11,946,000 after purchasing an additional 12,449 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Skechers U.S.A. by 6.3% during the fourth quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker’s stock valued at $73,319,000 after buying an additional 64,857 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Price Performance

SKX opened at $59.15 on Thursday. The company’s 50-day simple moving average is $63.40 and its two-hundred day simple moving average is $65.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The stock has a market capitalization of $8.83 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 52-week low of $52.51 and a 52-week high of $78.85.

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 for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock worth $13,452,902 in the last ninety days. Insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Bank of America reduced their target price on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 24th. UBS Group decreased their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. TD Cowen boosted their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Barclays decreased their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three research 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, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $80.42.

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.