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 firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Skechers U.S.A. Stock Performance

Shares of SKX traded up $0.05 on Thursday, reaching $67.29. The company’s stock had a trading volume of 1,534,021 shares, compared to its average volume of 1,881,422. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $75.09. The stock has a market capitalization of $10.16 billion, a P/E ratio of 16.57, a PEG ratio of 0.98 and a beta of 1.22. 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 stock’s 50 day simple moving average is $64.94 and its two-hundred day simple moving average is $65.79.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. Skechers U.S.A.’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. Research analysts forecast that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

Institutional Trading of Skechers U.S.A.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SKX shares. Barclays lifted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America dropped their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. TD Cowen reduced their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, October 14th. StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. presently has a consensus 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.