Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg Sells 8,219 Shares

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) COO David Weinberg sold 8,219 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares of the company's stock, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.05 during midday trading on Thursday, reaching $67.29. 1,538,955 shares of the company traded hands, compared to its average volume of 1,881,422. The stock has a 50-day moving average price of $65.05 and a 200 day moving average price of $65.80. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skechers U.S.A.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Skechers U.S.A. by 423.3% in the 3rd 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. Venturi Wealth Management LLC raised its position in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after acquiring an additional 299 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Skechers U.S.A. in the 3rd quarter valued at about $67,000. Blue Trust Inc. boosted 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 purchasing an additional 887 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Skechers U.S.A. by 44.6% in the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker's stock worth $82,000 after purchasing an additional 366 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SKX shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Morgan Stanley increased their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. StockNews.com raised Skechers U.S.A. from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Piper Sandler began coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a "neutral" rating and a $65.00 price objective for the company. Finally, TD Cowen cut their target price on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.00.

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.