Mark A. Nason Sells 12,046 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKX) EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now directly owns 25,675 shares in the company, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Skechers U.S.A. Stock Performance

SKX stock traded down $0.53 during trading on Wednesday, reaching $66.45. The company had a trading volume of 955,969 shares, compared to its average volume of 2,533,650. 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 twelve month low of $55.67 and a twelve month high of $78.85. The firm has a 50-day simple moving average of $69.79 and a 200-day simple moving average of $66.54. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS 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 13.73%. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. 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. 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. Evercore ISI lifted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. Three equities 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, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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

Several large investors have recently made changes to their positions in SKX. Blue Trust Inc. increased its holdings in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after acquiring an additional 887 shares in the last quarter. Raymond James & Associates increased its holdings in Skechers U.S.A. by 192.7% in the 3rd quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock worth $3,518,000 after acquiring an additional 34,612 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Skechers U.S.A. by 22.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,288 shares of the textile maker’s stock worth $3,098,000 after acquiring an additional 8,564 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Skechers U.S.A. in the 3rd quarter worth $289,000. Finally, Lecap Asset Management Ltd. purchased a new stake in Skechers U.S.A. in the 3rd quarter worth $1,231,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.