Osterweis Capital Management Inc. Sells 67,090 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Osterweis Capital Management Inc. lessened its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 27.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,975 shares of the textile maker’s stock after selling 67,090 shares during the period. Osterweis Capital Management Inc.’s holdings in Skechers U.S.A. were worth $11,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. TD Private Client Wealth LLC grew its position in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after acquiring an additional 358 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares during the last quarter. IFP Advisors Inc raised its position in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after acquiring an additional 317 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Skechers U.S.A. during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SKX shares. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Bank of America cut their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. UBS Group lowered their target price on Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Barclays decreased their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.75.

Skechers U.S.A. Trading Down 2.4 %

Shares of Skechers U.S.A. stock opened at $46.63 on Thursday. The company has a 50 day simple moving average of $57.10 and a two-hundred day simple moving average of $63.59. The firm has a market cap of $6.96 billion, a PE ratio of 11.24, a PEG ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 1 year low of $44.50 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.

Skechers U.S.A. (NYSE:SKX) last posted 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%. Analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 33,656 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the transaction, the president now directly owns 137,530 shares in the company, valued at $8,356,322.80. This trade represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is currently owned by corporate insiders.

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.