Skechers U.S.A., Inc. (NYSE:SKX) COO Sells $554,618.12 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Skechers U.S.A. Trading Up 0.1 %

NYSE SKX opened at $67.29 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $10.16 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.98 and a beta of 1.22. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. The firm has a 50-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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts expect that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on SKX shares. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on 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. TD Cowen decreased their target price on 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. Bank of America cut their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Morgan Stanley increased their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of SKX. UMB Bank n.a. grew its stake in shares of 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 worth $30,000 after purchasing an additional 364 shares during the period. Venturi Wealth Management LLC boosted its holdings 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 worth $58,000 after buying an additional 299 shares in the last quarter. Brooklyn Investment Group acquired a new position in Skechers U.S.A. during the third quarter worth about $67,000. Blue Trust Inc. increased its holdings in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after buying an additional 887 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Skechers U.S.A. by 44.6% during the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock valued at $82,000 after acquiring an additional 366 shares during the period. Institutional investors and hedge funds 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.