Skechers USA Inc (SKX) Can’t Be Less Risky. The Stock Formed a Bullish Double Top

July 18, 2017 - By reb123z

Investors sentiment decreased to 0.82 in Q4 2016. Its down 0.10, from 0.92 in 2016Q3. It dived, 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.
Schwab Charles Investment Mgmt owns 589,855 shares or 0.02% of their US portfolio. Td Asset Mgmt holds 0% or 52,200 shares in its portfolio. Metropolitan Life Insur New York reported 0.02% stake. Ls Inv Ltd stated it has 9,252 shares or 0.02% of all its holdings. Independent Port Consultants reported 0.09% of its portfolio in Skechers USA Inc (NYSE:SKX). The Maryland-based Calvert Investment Management has invested 0.01% in Skechers USA Inc (NYSE:SKX). The Switzerland-based Credit Suisse Ag has invested 0.01% in Skechers USA Inc (NYSE:SKX). Nomura Holdings holds 0% or 12,558 shares. 273,562 are owned by Pinebridge Investments Ltd Partnership. Amica Pension Fund Board Of Trustees holds 0.35% or 119,083 shares. Us Fincl Bank De has 0% invested in Skechers USA Inc (NYSE:SKX) for 1,998 shares. Winfield Associates Inc invested in 0% or 60 shares. Stevens Capital L P has invested 0.03% in Skechers USA Inc (NYSE:SKX). State Of Tennessee Treasury Department accumulated 200,000 shares. Slate Path Capital Limited Partnership holds 1.39% or 1.86M shares in its portfolio.

Since March 2, 2017, it had 0 insider buys, and 6 insider sales for $2.27 million activity. $500,011 worth of stock was sold by NASON MARK A on Wednesday, March 15. Another trade for 24,188 shares valued at $626,953 was made by WEINBERG DAVID on Thursday, March 2. 750 shares were sold by Walsh Thomas, worth $22,421 on Tuesday, March 28. PACCIONE PHILLIP sold $487,140 worth of stock. Shares for $41,850 were sold by RAPPAPORT RICHARD.

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 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. BB&T Capital initiated Skechers USA Inc (NYSE:SKX) rating on Friday, October 16. BB&T Capital has “Buy” rating and $150 target. The rating was upgraded by Citigroup on Thursday, June 1 to “Buy”. The firm has “Positive” rating given on Monday, June 5 by Susquehanna. Sterne Agee CRT maintained the shares of SKX in report on Sunday, September 6 with “Buy” rating. The firm has “Buy” rating by Vetr given on Friday, August 28. On Wednesday, September 21 the stock rating was downgraded by Morgan Stanley to “Equal-Weight”. The rating was initiated by Standpoint Research on Monday, October 3 with “Buy”. Cowen & Co maintained Skechers USA Inc (NYSE:SKX) on Wednesday, June 21 with “Buy” rating. Susquehanna upgraded the shares of SKX in report on Friday, September 30 to “Positive” rating. As per Friday, October 21, the company rating was downgraded by Citigroup.

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

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