Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) CEO Sells 52,600 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX) CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $64.41 on Friday. 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 firm has a market cap of $9.72 billion, a PE ratio of 15.52, a P/E/G ratio of 0.95 and a beta of 1.19. The firm has a 50 day simple moving average of $70.28 and a 200-day simple moving average of $66.48. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. On average, equities analysts expect that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on SKX shares. Piper Sandler began coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective for the company. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. TD Cowen lifted their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, UBS Group reduced their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.25.

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

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after buying an additional 190 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Skechers U.S.A. by 534.3% during the 4th 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. UMB Bank n.a. boosted its position in shares of Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after acquiring an additional 364 shares during the last quarter. IFP Advisors Inc grew 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 period. Finally, Venturi Wealth Management LLC increased its position 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 purchasing an additional 299 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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.