Skechers U.S.A., Inc. (NYSE:SKX) Sees Large Growth in Short Interest

Skechers U.S.A., Inc. (NYSE:SKX) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 6,860,000 shares, an increase of 73.7% from the January 31st total of 3,950,000 shares. Currently, 5.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,220,000 shares, the days-to-cover ratio is currently 3.1 days.

Analyst Ratings Changes

Several equities analysts have weighed in on SKX shares. Stifel Nicolaus cut their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. TD Cowen upped their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. 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 note on Tuesday, January 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Insider Buying and Selling at Skechers U.S.A.

In related news, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark A. Nason sold 12,046 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 25,675 shares in the company, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,139 shares of company stock valued at $7,600,899 in the last three months. 24.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Skechers U.S.A.

Large investors have recently made changes to their positions in the stock. Spire Wealth Management increased its stake in Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after buying an additional 155 shares during the period. Calamos Wealth Management LLC increased its position in shares of Skechers U.S.A. by 0.9% during the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after acquiring an additional 157 shares during the period. Cerity Partners LLC raised its stake in shares of Skechers U.S.A. by 1.2% during the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock valued at $947,000 after acquiring an additional 172 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. Finally, Lindenwold Advisors INC boosted its holdings in shares of Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after purchasing an additional 195 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Up 0.4 %

NYSE SKX traded up $0.22 during trading on Friday, hitting $61.01. The stock had a trading volume of 2,303,226 shares, compared to its average volume of 2,479,408. Skechers U.S.A. has a one year low of $55.67 and a one year high of $78.85. The stock has a 50 day simple moving average of $68.91 and a 200 day simple moving average of $66.62. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.11 and a beta of 1.19. 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. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Sell-side analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current year.

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.