Portolan Capital Management LLC Sells 29,131 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Portolan Capital Management LLC decreased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 15.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,059 shares of the textile maker’s stock after selling 29,131 shares during the quarter. Portolan Capital Management LLC owned about 0.10% of Skechers U.S.A. worth $10,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CIBC Asset Management Inc raised its holdings in Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 173 shares during the period. Lindenwold Advisors INC increased its holdings in shares of Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after purchasing an additional 195 shares during the period. X Square Capital LLC increased its holdings in shares of Skechers U.S.A. by 0.5% in the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock worth $2,827,000 after purchasing an additional 215 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Skechers U.S.A. by 2.8% in the third quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock worth $586,000 after purchasing an additional 236 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Skechers U.S.A. by 18.8% in the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock worth $112,000 after purchasing an additional 265 shares during the period. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX opened at $69.17 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The company has a market cap of $10.44 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.91 and a beta of 1.22. The firm’s fifty day moving average is $63.53 and its two-hundred day moving average is $66.05. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the company posted $0.93 EPS. The business’s revenue was up 16.0% on a year-over-year basis. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the subject of several research reports. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Morgan Stanley upped their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating for the company. TD Cowen cut their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average target price of $78.09.

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.