Skechers U.S.A., Inc. (NYSE:SKX) CEO Sells $2,486,542.24 in Stock

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

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 stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded up $0.04 on Friday, reaching $59.06. The stock had a trading volume of 3,942,882 shares, compared to its average volume of 1,975,190. The business's 50 day moving average is $68.18 and its two-hundred day moving average is $66.42. 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., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The company has a market cap of $8.92 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.

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Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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%. As a group, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

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

Several large investors have recently added to or reduced their stakes in SKX. NewEdge Advisors LLC increased its stake in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after purchasing an additional 358 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $32,000. UMB Bank n.a. lifted its position in Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after purchasing an additional 239 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after buying an additional 317 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SKX shares. Stifel Nicolaus decreased their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company 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 report on Monday, February 10th. Piper Sandler started coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 price target on the stock. TD Cowen increased their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.