Phillip Paccione Sells 10,994 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKX) General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares of the company’s stock, valued at approximately $849,450. The trade was a 42.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $59.35 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85. The firm’s 50-day moving average price is $68.36 and its two-hundred day moving average price is $66.47.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Institutional Trading of Skechers U.S.A.

Several hedge funds have recently modified their holdings of the stock. Cim LLC grew its stake in shares of Skechers U.S.A. by 1.7% during the fourth quarter. Cim LLC now owns 19,271 shares of the textile maker’s stock valued at $1,296,000 after purchasing an additional 316 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $1,110,000. Integrated Advisors Network LLC grew its stake in shares of Skechers U.S.A. by 335.4% during the fourth quarter. Integrated Advisors Network LLC now owns 14,900 shares of the textile maker’s stock valued at $1,002,000 after purchasing an additional 11,478 shares during the last quarter. Peak Retirement Planning Inc. bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $953,000. Finally, Formidable Asset Management LLC bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $769,000. 79.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SKX has been the subject of several analyst reports. UBS Group reduced their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Evercore ISI boosted their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. TD Cowen boosted their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

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.