Phocas Financial Corp. Sells 45,962 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Phocas Financial Corp. lowered its position in Skechers U.S.A., Inc. (NYSE:SKX) by 85.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,110 shares of the textile maker’s stock after selling 45,962 shares during the period. Phocas Financial Corp.’s holdings in Skechers U.S.A. were worth $545,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in Skechers U.S.A. by 88.1% during the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after buying an additional 13,836 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Skechers U.S.A. by 22.3% during the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock valued at $9,295,000 after buying an additional 25,289 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Skechers U.S.A. by 2,340.0% during the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after buying an additional 67,812 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Skechers U.S.A. by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after acquiring an additional 17,429 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after acquiring an additional 15,874 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now directly owns 25,675 shares in the company, valued at $1,696,604. The trade was a 31.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,139 shares of company stock worth $7,600,899 in the last three months. Corporate insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SKX shares. UBS Group cut their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. TD Cowen raised their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Finally, Evercore ISI raised their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $61.96 on Wednesday. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The stock has a fifty day moving average of $69.20 and a 200-day moving average of $66.64. 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 cap of $9.35 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS 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%. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Skechers U.S.A. 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.