Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) COO Sells $3,899,859.30 in Stock

Skechers U.S.A., Inc. (NYSE:SKXGet Free Report) COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the transaction, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $58.91 on Monday. Skechers U.S.A., Inc. has a 52-week low of $41.56 and a 52-week high of $65.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The company has a market capitalization of $9.07 billion, a P/E ratio of 16.88 and a beta of 1.36. The company has a fifty day moving average of $61.70 and a 200-day moving average of $54.51.

Skechers U.S.A. (NYSE:SKXGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.04. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, equities research analysts predict that Skechers U.S.A., Inc. will post 3.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SKX shares. Raymond James reduced their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Monness Crespi & Hardt boosted their price target on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Wedbush reduced their price target on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, February 2nd. Finally, Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.56.

Read Our Latest Stock Analysis on SKX

Institutional Trading of Skechers U.S.A.

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new stake in Skechers U.S.A. in the first quarter worth $25,000. IFP Advisors Inc bought a new stake in Skechers U.S.A. in the second quarter worth $26,000. Fred Alger Management LLC bought a new stake in Skechers U.S.A. in the first quarter worth $26,000. Huntington National Bank raised its stake in shares of Skechers U.S.A. by 861.7% during the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Skechers U.S.A. during the third quarter valued at about $31,000. 80.54% of the stock is owned by institutional investors.

About Skechers U.S.A.

(Get Free Report)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.

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Insider Buying and Selling by Quarter for Skechers U.S.A. (NYSE:SKX)

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