Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) COO Sells 26,913 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 26,913 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $1,635,233.88. Following the completion of the sale, the chief operating officer now owns 44,637 shares of the company’s stock, valued at approximately $2,712,144.12. This represents a 37.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

David Weinberg also recently made the following trade(s):

• On Wednesday, February 12th, David Weinberg sold 36,000 shares of Skechers U.S.A. stock. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00.
• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The stock was sold at an average price of $67.48, for a total value of $554,618.12.

Skechers U.S.A. Trading Down 4.4 %

NYSE SKX opened at $58.33 on Tuesday. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85. The company has a fifty day simple moving average of $68.73 and a two-hundred day simple moving average of $66.57. 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 cap of $8.81 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Institutional Investors Weigh In On Skechers U.S.A.

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC raised its position in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after acquiring an additional 358 shares during the period. Investment Management Corp VA ADV purchased a new position in shares of Skechers U.S.A. during the fourth quarter worth $32,000. UMB Bank n.a. lifted its position in Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 239 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Evercore ISI lifted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Raymond James cut their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Barclays cut their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

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.