Robert Greenberg Sells 52,600 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Skechers U.S.A. Stock Down 0.5 %

Shares of SKX stock traded down $0.31 on Monday, reaching $63.99. 2,262,346 shares of the stock were exchanged, compared to its average volume of 1,980,609. The business's 50 day moving average price is $70.02 and its 200 day moving average price is $66.48. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 0.95 and a beta of 1.19. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

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 for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SKX. Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 target price on the stock. Barclays decreased their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, TD Cowen lifted their price target 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.25.

Institutional Trading of Skechers U.S.A.

Several hedge funds and other institutional investors have recently made changes to their positions in SKX. CWM LLC grew its stake in shares of Skechers U.S.A. by 4.4% during the 3rd quarter. CWM LLC now owns 10,637 shares of the textile maker's stock worth $712,000 after purchasing an additional 451 shares during the period. UMB Bank n.a. boosted its holdings in Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock worth $30,000 after buying an additional 364 shares in the last quarter. Transform Wealth LLC acquired a new position in Skechers U.S.A. during the third quarter worth about $7,186,000. nVerses Capital LLC purchased a new position in Skechers U.S.A. in the third quarter valued at about $696,000. Finally, Blue Trust Inc. lifted its position in shares of Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $69,000 after acquiring an additional 887 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Company Profile

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.