Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) President Sells 10,274 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the sale, the president now directly owns 149,327 shares in the company, valued at approximately $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 SEC, which is available at the SEC website.

Skechers U.S.A. Price Performance

SKX stock opened at $69.09 on Friday. The firm has a market cap of $10.43 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.98 and a beta of 1.22. The firm’s fifty day moving average is $65.25 and its 200 day moving average is $65.78. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09. 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. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts predict that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Institutional Trading of Skechers U.S.A.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. increased its stake in shares of Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after buying an additional 364 shares during the period. Venturi Wealth Management LLC grew its holdings in Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after acquiring an additional 299 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Skechers U.S.A. in the third quarter valued at about $67,000. Blue Trust Inc. raised its stake in shares of Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 887 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Skechers U.S.A. by 44.6% in the second quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock worth $82,000 after purchasing an additional 366 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SKX. TD Cowen lowered their target price on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler began coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays upped their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Skechers U.S.A. Company 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.