David Weinberg Sells 8,219 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 8,219 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $69.09 on Friday. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $75.09. The company’s 50-day moving average is $65.25 and its two-hundred day moving average is $65.78. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The company has a market cap of $10.43 billion, a PE ratio of 17.02, a PEG ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Institutional Investors Weigh In On Skechers U.S.A.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its stake in shares of Skechers U.S.A. by 3.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 66,273 shares of the textile maker’s stock valued at $4,581,000 after acquiring an additional 2,002 shares during the last quarter. CIBC Asset Management Inc increased its stake in Skechers U.S.A. by 4.7% in the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after purchasing an additional 173 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Skechers U.S.A. in the second quarter worth $354,000. TD Asset Management Inc boosted its position in shares of Skechers U.S.A. by 5.7% during the second quarter. TD Asset Management Inc now owns 32,838 shares of the textile maker’s stock worth $2,270,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Skechers U.S.A. by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 38,061 shares of the textile maker’s stock valued at $2,631,000 after buying an additional 1,346 shares during the period. Institutional investors own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Bank of America dropped their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays lifted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Morgan Stanley boosted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.00.

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.