Fox Run Management L.L.C. Reduces Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Fox Run Management L.L.C. decreased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,009 shares of the textile maker’s stock after selling 9,604 shares during the quarter. Fox Run Management L.L.C.’s holdings in Skechers U.S.A. were worth $1,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its stake in Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after acquiring an additional 13,836 shares during the period. Raymond James Financial Inc. purchased a new position in Skechers U.S.A. during the fourth quarter valued at $12,852,000. National Bank of Canada FI lifted its position in 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 period. Charles Schwab Investment Management Inc. lifted its position in Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after buying an additional 17,429 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after buying an additional 15,874 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. The trade was a 42.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now directly owns 61,367 shares in the company, 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. Insiders sold a total of 236,738 shares of company stock worth $14,700,809 in the last three months. 24.75% of the stock is currently owned by company insiders.

Skechers U.S.A. Price Performance

NYSE SKX opened at $56.11 on Friday. Skechers U.S.A., Inc. has a one year low of $53.79 and a one year high of $78.85. The stock has a 50-day moving average of $65.55 and a 200 day moving average of $65.52. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results 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 net margin of 7.13% and a return on equity of 13.73%. On average, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SKX. UBS Group lowered their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. TD Cowen raised their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James reduced their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, Piper Sandler initiated coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

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.