Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg Sells 10,274 Shares

Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company’s stock, valued at $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 through this hyperlink.

Skechers U.S.A. Price Performance

SKX opened at $69.09 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The company’s 50 day simple moving average is $65.25 and its 200-day simple moving average is $65.78. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $75.09. The stock has a market capitalization of $10.43 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Seven Eight Capital LP lifted its holdings in Skechers U.S.A. by 126.1% in the second quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock valued at $2,033,000 after buying an additional 16,408 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock valued at $1,822,000 after purchasing an additional 13,836 shares during the period. Victory Capital Management Inc. boosted its position in shares of Skechers U.S.A. by 22.3% in the 3rd quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after purchasing an additional 25,289 shares during the last quarter. Transform Wealth LLC acquired a new stake in shares of Skechers U.S.A. during the third quarter worth $7,186,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after purchasing an additional 17,429 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SKX shares. Bank of America reduced their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. Needham & Company LLC assumed coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Morgan Stanley upped their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, TD Cowen cut their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

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.