Amalgamated Bank Has $4.22 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Amalgamated Bank trimmed its position in Skechers U.S.A., Inc. (NYSE:SKX) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,744 shares of the textile maker’s stock after selling 635 shares during the quarter. Amalgamated Bank’s holdings in Skechers U.S.A. were worth $4,219,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SKX. Pacer Advisors Inc. lifted its position in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after acquiring an additional 2,594,507 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after purchasing an additional 953,528 shares during the period. Commerce Bank boosted its holdings in shares of Skechers U.S.A. by 949.5% during the third quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock worth $31,303,000 after purchasing an additional 423,204 shares during the period. Coronation Fund Managers Ltd. grew its position in Skechers U.S.A. by 378.6% during the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after purchasing an additional 394,618 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after purchasing an additional 287,939 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SKX shares. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price for the company. Stifel Nicolaus dropped their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Evercore ISI increased their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Raymond James reduced their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Three 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, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $61.01 on Friday. The firm’s 50-day moving average is $68.91 and its 200-day moving average is $66.57. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.11 and a beta of 1.19. 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., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate 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.

Insider Activity

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated 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 directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,139 shares of company stock worth $7,600,899. 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.