After Forming Double Top, Is Skechers USA Inc (SKX)’s Near-Term Analysis Positive?

July 18, 2017 - By Marguerite Chambers

Investors sentiment decreased to 0.82 in Q4 2016. Its down 0.10, from 0.92 in 2016Q3. It dropped, as 47 investors sold Skechers USA Inc shares while 99 reduced holdings. 46 funds opened positions while 74 raised stakes. 95.79 million shares or 1.00% more from 94.84 million shares in 2016Q3 were reported.
North Star Invest Management holds 300 shares or 0% of its portfolio. Ny State Common Retirement Fund invested in 0.01% or 279,300 shares. New York State Teachers Retirement System reported 0.02% of its portfolio in Skechers USA Inc (NYSE:SKX). Capstone Asset Management invested in 0.01% or 18,286 shares. New York-based Highbridge Mgmt Lc has invested 0.01% in Skechers USA Inc (NYSE:SKX). Cambridge Rech Advsr reported 24,964 shares. Rothschild Asset Mngmt holds 1.36M shares or 0.42% of its portfolio. Moreover, M&T Financial Bank has 0% invested in Skechers USA Inc (NYSE:SKX) for 13,571 shares. Arizona State Retirement Sys reported 51,440 shares or 0.02% of all its holdings. Princeton Alpha Mgmt Limited Partnership has invested 0.05% of its portfolio in Skechers USA Inc (NYSE:SKX). Two Sigma Secs Limited Liability Company holds 12,937 shares. Moreover, Sunbelt has 0% invested in Skechers USA Inc (NYSE:SKX) for 21 shares. Sei Investments Communication has invested 0% in Skechers USA Inc (NYSE:SKX). Foundation Asset Limited Partnership invested in 0.82% or 110,000 shares. Principal holds 533,278 shares.

Since March 2, 2017, it had 0 insider buys, and 6 insider sales for $2.27 million activity. WEINBERG DAVID sold $589,386 worth of Skechers USA Inc (NYSE:SKX) on Tuesday, May 2. PACCIONE PHILLIP had sold 18,794 shares worth $487,140 on Thursday, March 2. Another trade for 1,500 shares valued at $41,850 was sold by RAPPAPORT RICHARD. Walsh Thomas had sold 750 shares worth $22,421 on Tuesday, March 28. NASON MARK A sold $500,011 worth of stock or 18,376 shares.

The chart of Skechers USA Inc (SKX) shows a double top with $30.96 target or 8.00 % above today’s $28.67 share price. The 9 months chart pattern indicates low risk for the $4.53B company. It was reported on Jul, 18 by Finviz.com. If the $30.96 price target is reached, the company will be worth $362.40M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.35% or $0.1 on July 17, reaching $28.67. About shares traded. Skechers USA Inc (NYSE:SKX) has declined 20.35% since July 18, 2016 and is downtrending. It has underperformed by 37.05% the S&P500.

Skechers USA Inc (NYSE:SKX) Ratings Coverage

Among 16 analysts covering Skechers Usa Inc. (NYSE:SKX), 12 have Buy rating, 0 Sell and 4 Hold. Therefore 75% are positive. Skechers Usa Inc. had 43 analyst reports since July 22, 2015 according to SRatingsIntel. As per Thursday, December 1, the company rating was upgraded by Buckingham Research. Wells Fargo initiated Skechers USA Inc (NYSE:SKX) on Tuesday, December 6 with “Outperform” rating. Sterne Agee CRT maintained the shares of SKX in report on Sunday, September 6 with “Buy” rating. Susquehanna maintained the stock with “” rating in Tuesday, April 11 report. The firm has “Buy” rating by Cowen & Co given on Wednesday, June 21. The stock has “Negative” rating by Susquehanna on Wednesday, March 29. The company was upgraded on Thursday, June 1 by Citigroup. Susquehanna downgraded the stock to “Neutral” rating in Friday, January 22 report. Wedbush initiated the stock with “Neutral” rating in Wednesday, November 2 report. The rating was downgraded by Morgan Stanley on Wednesday, September 21 to “Equal-Weight”.

More recent Skechers USA Inc (NYSE:SKX) news were published by: Fool.com which released: “Why Skechers USA, Inc. Stock Popped 15.6% in June” on July 05, 2017. Also Businesswire.com published the news titled: “SKECHERS USA, Inc. to Report Second Quarter 2017 Financial Results on Thursday …” on July 13, 2017. Zacks.com‘s news article titled: “Factors That Set the Tone for Skechers (SKX) Q2 Earnings” with publication date: July 18, 2017 was also an interesting one.

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