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

Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $67.29 on Friday. The firm 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. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $75.09. 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 business has a fifty day moving average price of $65.05 and a 200-day moving average price of $65.80.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping 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 business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $0.93 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

Hedge Funds Weigh In On Skechers U.S.A.

Hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in shares of Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after purchasing an additional 173 shares in the last quarter. Lindenwold Advisors INC grew its position in Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after buying an additional 195 shares in the last quarter. X Square Capital LLC increased its stake in Skechers U.S.A. by 0.5% in the 2nd quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock worth $2,827,000 after acquiring an additional 215 shares during the last quarter. Edgestream Partners L.P. raised its holdings in shares of Skechers U.S.A. by 2.8% in the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock valued at $586,000 after acquiring an additional 236 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Skechers U.S.A. by 18.8% during the 3rd quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after acquiring an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SKX shares. Bank of America reduced their target price on 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. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Morgan Stanley increased their price target on shares of 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of 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. Finally, TD Cowen reduced their target price on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average price target of $77.00.

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.