Skechers U.S.A., Inc. (NYSE:SKX) EVP Mark A. Nason Sells 12,046 Shares

Skechers U.S.A., Inc. (NYSE:SKX) EVP Mark A. Nason sold 12,046 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total transaction of $795,999.68. Following the transaction, the executive vice president now directly owns 25,675 shares of the company’s stock, valued at $1,696,604. The trade was a 31.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Skechers U.S.A. Trading Down 0.8 %

SKX traded down $0.53 on Wednesday, reaching $66.45. 955,969 shares of the company traded hands, compared to its average volume of 2,533,650. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The firm has a fifty day simple moving average of $69.79 and a two-hundred day simple moving average of $66.54. The company has a market cap of $10.03 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. As a group, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on SKX shares. Evercore ISI increased their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. TD Cowen increased their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Barclays lowered their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Bank of America lowered their target price 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. Finally, StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three investment 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, the stock has an average rating of “Moderate Buy” and an average target price of $81.25.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Formidable Asset Management LLC purchased a new position in Skechers U.S.A. during the 4th quarter valued at about $769,000. Investment Management Corp VA ADV purchased a new position in Skechers U.S.A. during the 4th quarter valued at about $32,000. Vise Technologies Inc. purchased a new position in Skechers U.S.A. during the 4th quarter valued at about $261,000. CSS LLC IL purchased a new position in Skechers U.S.A. during the 4th quarter valued at about $755,000. Finally, iSAM Funds UK Ltd purchased a new position in Skechers U.S.A. during the 4th quarter valued at about $236,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.