Investors Purchase High Volume of Skechers U.S.A. Call Options (NYSE:SKX)

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) was the target of unusually large options trading on Wednesday. Stock investors purchased 6,084 call options on the company. This is an increase of 132% compared to the typical volume of 2,621 call options.

Insiders Place Their Bets

In related news, COO David Weinberg sold 8,219 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock valued at $14,700,809 in the last three months. 24.75% of the stock is currently owned by insiders.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Spire Wealth Management raised its position in shares of Skechers U.S.A. by 11.6% during the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after acquiring an additional 155 shares in the last quarter. Calamos Wealth Management LLC increased its position in 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 buying an additional 157 shares during the period. Cerity Partners LLC increased its position in 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 worth $947,000 after buying an additional 172 shares during the period. NewEdge Advisors LLC increased its position in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares during the period. Finally, Lindenwold Advisors INC increased its position in Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker's stock worth $446,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price 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. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Evercore ISI raised their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, UBS Group lowered their target price on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.25.

Skechers U.S.A. Stock Up 0.1 %

Shares of NYSE SKX traded up $0.04 during midday trading on Friday, hitting $59.06. 3,942,882 shares of the company's stock were exchanged, compared to its average volume of 1,976,625. 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. has a twelve month low of $55.67 and a twelve month high of $78.85. The company has a market cap of $8.92 billion, a PE ratio of 14.23, a P/E/G ratio of 1.11 and a beta of 1.21. The firm's fifty day simple moving average is $68.01 and its 200-day simple moving average is $66.37.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. Research analysts predict that Skechers U.S.A. will post 4.47 EPS for the current fiscal year.

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.