The stock of Skechers USA Inc (NYSE:SKX) is a huge mover today! About 4.48M shares traded hands or 22.74% up from the average. Skechers USA Inc (NYSE:SKX) has declined 31.80% since April 28, 2016 and is downtrending. It has underperformed by 37.72% the S&P500.
The move comes after 8 months positive chart setup for the $4.34B company. It was reported on Dec, 1 by Barchart.com. We have $26.71 PT which if reached, will make NYSE:SKX worth $130.20 million more.
Skechers USA Inc (NYSE:SKX) Ratings Coverage
Out of 14 analysts covering Skechers Usa Inc. (NYSE:SKX), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. Skechers Usa Inc. has been the topic of 30 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Thursday, November 3 by B. Riley & Co. The company was initiated on Friday, August 12 by Susquehanna. On Tuesday, October 13 the stock rating was initiated by Argus Research with “Buy”. The firm has “Buy” rating given on Thursday, July 30 by Monness Crespi & Hardt. Standpoint Research initiated the shares of SKX in a report on Monday, October 3 with “Buy” rating. The company was downgraded on Friday, January 22 by Susquehanna. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Wednesday, September 21 report. Sterne Agee CRT maintained the shares of SKX in a report on Sunday, September 6 with “Buy” rating. B. Riley & Co maintained the stock with “Buy” rating in Thursday, July 30 report. On Friday, August 28 the stock rating was downgraded by Vetr to “Buy”.
According to Zacks Investment Research, “Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged and lifestyle footwear for men, women and children. The company sells its products to department stores such as Nordstrom, Macy’s, Dillards, Robinson’s-May and JC Penney and specialty retailers such as Genesco’s Journeys and Jarman chains, The Venator Group’s Foot Locker and Lady Foot Locker chains, Pacific Sunwear and Footaction U.S.A.”
Insitutional Activity: The institutional sentiment decreased to 0.92 in 2016 Q2. Its down 0.19, from 1.11 in 2016Q1. The ratio is negative, as 62 funds sold all Skechers USA Inc shares owned while 93 reduced positions. 60 funds bought stakes while 112 increased positions. They now own 102.59 million shares or 3.66% less from 106.49 million shares in 2016Q1.
Deutsche Bank & Trust Ag has 262,294 shares for 0.01% of their US portfolio. The Florida-based Harvey Mngmt has invested 3.16% in Skechers USA Inc (NYSE:SKX). Synovus Fincl Corporation holds 0% of its portfolio in Skechers USA Inc (NYSE:SKX) for 5,000 shares. The France-based Axa has invested 0.02% in Skechers USA Inc (NYSE:SKX). Boston Ltd Limited Liability Company owns 44,585 shares or 0.03% of their US portfolio. Delta Asset Limited Liability Co Tn, a Tennessee-based fund reported 85 shares. Boston Private Wealth Limited Liability reported 18,010 shares or 0.02% of all its holdings. State Of Wisconsin Investment Board reported 84,890 shares or 0.01% of all its holdings. Dimensional Fund Advsrs Limited Partnership reported 1.56M shares or 0.03% of all its holdings. Thomas White International Ltd holds 0% of its portfolio in Skechers USA Inc (NYSE:SKX) for 255 shares. Peak6 Invs L P last reported 0.02% of its portfolio in the stock. Sg Americas Secs Lc has invested 0.01% of its portfolio in Skechers USA Inc (NYSE:SKX). Capital Fund Mngmt holds 0.03% of its portfolio in Skechers USA Inc (NYSE:SKX) for 105,151 shares. Rail last reported 2.85% of its portfolio in the stock. Morgan Stanley has 0.01% invested in the company for 1.08M shares.
Insider Transactions: Since July 1, 2016, the stock had 1 insider buy, and 4 insider sales for $7.52 million net activity. $3.09 million worth of shares were sold by GREENBERG MICHAEL on Wednesday, November 2. Shares for $33,509 were sold by PACCIONE PHILLIP. GREENBERG ROBERT had bought 500,000 shares worth $10.98M on Monday, November 28. GREENBERG JEFFREY also sold $301,519 worth of Skechers USA Inc (NYSE:SKX) shares. Walsh Thomas sold $33,953 worth of stock or 1,500 shares.
Another recent and important Skechers USA Inc (NYSE:SKX) news was published by Livetradingnews.com which published an article titled: “Skechers USA Inc (NYSE:SKX) Heffx Technical Analysis” on December 01, 2016.
SKX Company Profile
Skechers U.S.A., Inc., incorporated on May 28, 1998, is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Firm operates through three divisions: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and Internet retailers. In addition to wholesale distribution, the Company’s footwear is available at its e-commerce site and its own retail stores. The Firm operates approximately 120 concept stores, over 160 factory outlet stores and over 120 warehouse outlet stores in the United States, and approximately 80 concept stores, over 40 factory outlet stores, and over five warehouse outlet stores internationally.
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