Adams Diversified Equity Fund Inc. Sells 23,600 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Adams Diversified Equity Fund Inc. decreased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,300 shares of the textile maker’s stock after selling 23,600 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Skechers U.S.A. were worth $15,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SKX. Spire Wealth Management boosted its holdings in Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after acquiring an additional 155 shares in the last quarter. Calamos Wealth Management LLC boosted its holdings in Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after acquiring an additional 157 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Skechers U.S.A. by 4.7% in the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock worth $302,000 after acquiring an additional 200 shares in the last quarter. Blue Trust Inc. boosted its holdings in Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after acquiring an additional 207 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in Skechers U.S.A. by 4.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,692 shares of the textile maker’s stock worth $315,000 after acquiring an additional 212 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SKX. UBS Group cut their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. TD Cowen increased their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler began coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

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

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 over the last ninety days. 24.75% of the stock is currently owned by company insiders.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $56.41 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.11 and a beta of 1.21. The stock has a 50 day moving average of $65.83 and a 200 day moving average of $65.61. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results 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%. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.