Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) CEO Sells 40,924 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX) CEO Robert Greenberg sold 40,924 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the transaction, the chief executive officer now owns 51,342 shares in the company, valued at $3,119,539.92. The trade was a 44.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Robert Greenberg also recently made the following trade(s):

• On Wednesday, February 12th, Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00.

Skechers U.S.A. Price Performance

Shares of SKX opened at $58.33 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.81 billion, a PE ratio of 14.06, a PEG ratio of 1.11 and a beta of 1.19. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85. The business has a 50-day simple moving average of $68.73 and a two-hundred day simple moving average of $66.57.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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%. Analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKX has been the subject of a number of analyst reports. Piper Sandler started coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price for the company. Barclays decreased 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 note on Monday, February 10th. UBS Group cut their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Stifel Nicolaus decreased their target price on 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 reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SKX. Cim LLC grew its position in shares of Skechers U.S.A. by 1.7% during the 4th quarter. Cim LLC now owns 19,271 shares of the textile maker’s stock worth $1,296,000 after buying an additional 316 shares during the period. Jefferies Financial Group Inc. bought a new position in Skechers U.S.A. during the fourth quarter worth $1,110,000. Integrated Advisors Network LLC grew its holdings in Skechers U.S.A. by 335.4% in the fourth quarter. Integrated Advisors Network LLC now owns 14,900 shares of the textile maker’s stock worth $1,002,000 after purchasing an additional 11,478 shares during the period. Peak Retirement Planning Inc. bought a new stake in Skechers U.S.A. in the fourth quarter valued at $953,000. Finally, Formidable Asset Management LLC acquired a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $769,000. 79.96% of the stock is owned by institutional investors and hedge funds.

About Skechers U.S.A.

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.