Quent Capital LLC Trims Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Quent Capital LLC decreased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 71.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,173 shares of the textile maker’s stock after selling 2,883 shares during the period. Quent Capital LLC’s holdings in Skechers U.S.A. were worth $79,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Spire Wealth Management increased its stake in shares of 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 purchasing an additional 155 shares in the last quarter. Calamos Wealth Management LLC increased its stake in shares of 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 purchasing an additional 157 shares in the last quarter. Lindenwold Advisors INC boosted its position in shares of Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after acquiring an additional 195 shares during the period. Edgestream Partners L.P. boosted its position in shares of Skechers U.S.A. by 2.8% in the third quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock valued at $586,000 after acquiring an additional 236 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Skechers U.S.A. by 53.1% in 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 period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Down 1.4 %

Shares of SKX opened at $63.03 on Thursday. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The firm has a 50 day moving average price of $70.43 and a 200-day moving average price of $66.50.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. As a group, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current year.

Insider Transactions at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,219 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 $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of analyst reports. TD Cowen raised their price objective 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. Raymond James cut their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Evercore ISI raised their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Stifel Nicolaus cut their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

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.