Skechers U.S.A., Inc. (NYSE:SKX) CEO Robert Greenberg Sells 40,924 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX) CEO Robert Greenberg sold 40,924 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the sale, the chief executive officer now owns 51,342 shares in the company, valued at $3,119,539.92. This represents a 44.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Robert Greenberg also recently made the following trade(s):

• On Wednesday, February 12th, Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00.

Skechers U.S.A. Stock Down 4.4 %

Skechers U.S.A. stock opened at $58.33 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The firm has a fifty day moving average price of $68.73 and a two-hundred day moving average price of $66.57. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its 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%. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Institutional Trading of Skechers U.S.A.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its position in shares of Skechers U.S.A. by 192.7% during the 3rd quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock worth $3,518,000 after buying an additional 34,612 shares during the period. Private Advisor Group LLC acquired a new position in Skechers U.S.A. during the third quarter worth $289,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Skechers U.S.A. by 241.4% during the third quarter. Harbor Capital Advisors Inc. now owns 89,561 shares of the textile maker’s stock valued at $5,993,000 after acquiring an additional 63,328 shares during the period. Coronation Fund Managers Ltd. boosted its stake in shares of Skechers U.S.A. by 378.6% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after purchasing an additional 394,618 shares in the last quarter. Finally, Intact Investment Management Inc. grew its holdings in shares of Skechers U.S.A. by 42.3% in the 3rd quarter. Intact Investment Management Inc. now owns 14,420 shares of the textile maker’s stock worth $965,000 after purchasing an additional 4,290 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SKX shares. Raymond James reduced their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays lowered their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. UBS Group reduced their target price on 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. Finally, TD Cowen boosted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.25.

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.