Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) General Counsel Phillip Paccione sold 10,994 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares of the company's stock, valued at $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Skechers U.S.A. Stock Performance
NYSE:SKX traded up $0.04 during mid-day trading on Friday, reaching $59.06. The company's stock had a trading volume of 3,942,882 shares, compared to its average volume of 1,977,207. The stock has a market cap of $8.92 billion, a P/E ratio of 14.23, a PEG ratio of 1.11 and a beta of 1.21. The firm's fifty day moving average price is $68.01 and its two-hundred day moving average price is $66.37. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.
Hedge Funds Weigh In On Skechers U.S.A.
A number of institutional investors and hedge funds have recently modified their holdings of SKX. Pacer Advisors Inc. grew its stake in shares of Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the period. Norges Bank purchased a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $105,741,000. Duquesne Family Office LLC purchased a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $72,272,000. Two Sigma Investments LP increased its holdings in Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock valued at $79,107,000 after buying an additional 1,041,677 shares during the last quarter. Finally, Anomaly Capital Management LP raised its holdings in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after purchasing an additional 1,011,815 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price objective for the company. Barclays reduced their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. UBS Group reduced their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Raymond James decreased their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, TD Cowen raised their target price 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.25.
Check Out Our Latest Stock Analysis on Skechers U.S.A.
Skechers U.S.A. Company Profile
(
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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.
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