Mutual of America Capital Management LLC Has $4.67 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Mutual of America Capital Management LLC cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 69,514 shares of the textile maker’s stock after selling 2,121 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Skechers U.S.A. were worth $4,674,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its stake in shares of Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 239 shares during the last quarter. IFP Advisors Inc increased its holdings in Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares during the period. Venturi Wealth Management LLC raised its position in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Skechers U.S.A. during the 4th quarter worth about $65,000. Finally, Brooklyn Investment Group bought a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at about $67,000. 79.96% of the stock is owned by institutional investors.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction dated 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 sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SKX. Barclays lowered their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Piper Sandler began coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. Evercore ISI increased their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, TD Cowen upped their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $57.74 on Wednesday. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The company has a market cap of $8.72 billion, a PE ratio of 13.91, a P/E/G ratio of 1.11 and a beta of 1.19. The stock has a 50-day moving average of $68.53 and a 200-day moving average of $66.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal 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.