Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) CEO Sells $2,486,542.24 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) CEO Robert Greenberg sold 40,924 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,486,542.24. Following the completion of the sale, the chief executive officer now owns 51,342 shares in the company, valued at approximately $3,119,539.92. The trade was a 44.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Greenberg also recently made the following trade(s):

• On Wednesday, February 12th, Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00.

Skechers U.S.A. Stock Performance

SKX stock opened at $59.35 on Thursday. The firm has a 50-day simple moving average of $68.36 and a two-hundred day simple moving average of $66.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. 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 market cap of $8.96 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS 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%. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of research analyst reports. Raymond James lowered their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. UBS Group decreased their price target 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. TD Cowen raised their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Barclays lowered their target price on 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its holdings in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. in the 4th quarter worth approximately $32,000. UMB Bank n.a. grew its position in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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.