Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) COO Sells 26,913 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) COO David Weinberg sold 26,913 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 transaction of $1,635,233.88. Following the completion of the transaction, the chief operating officer now owns 44,637 shares of the company's stock, valued at approximately $2,712,144.12. The trade was a 37.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

David Weinberg also recently made the following trade(s):

• On Wednesday, February 12th, David Weinberg sold 36,000 shares of Skechers U.S.A. stock. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00.
• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The shares were sold at an average price of $67.48, for a total value of $554,618.12.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock traded up $0.04 on Friday, reaching $59.06. 3,942,882 shares of the stock were exchanged, compared to its average volume of 1,975,190. The firm has a market capitalization of $8.92 billion, a PE ratio of 14.23, a PEG ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85. The business has a fifty day moving average price of $68.18 and a two-hundred day moving average price of $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.

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Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced 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%. As a group, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its holdings in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after acquiring an additional 190 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $32,000. UMB Bank n.a. boosted its holdings 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 worth $46,000 after buying an additional 239 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in Skechers U.S.A. by 62.4% during the fourth 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 and hedge funds own 79.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on SKX. 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. UBS Group cut 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 report on Friday, February 7th. TD Cowen increased their price target on shares of 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. Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, Raymond James reduced 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 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. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of "Moderate Buy" and a consensus target price of $81.25.

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.