Skechers U.S.A., Inc. (NYSE:SKX) EVP Sells 12,046 Shares

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) EVP Mark A. Nason sold 12,046 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares of the company's stock, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded down $2.64 during trading on Friday, reaching $63.01. 2,822,836 shares of the company traded hands, compared to its average volume of 2,553,836. The firm has a 50 day simple moving average of $69.61 and a 200-day simple moving average of $66.53. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85. The stock has a market capitalization of $9.51 billion, a PE ratio of 15.18, a P/E/G ratio of 1.12 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

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

Institutional Trading of Skechers U.S.A.

A number of hedge funds have recently bought and sold shares of SKX. Sanctuary Advisors LLC grew its stake in shares of Skechers U.S.A. by 88.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker's stock valued at $1,822,000 after purchasing an additional 13,836 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker's stock worth $9,295,000 after buying an additional 25,289 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Skechers U.S.A. by 2,340.0% in the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker's stock worth $4,732,000 after buying an additional 67,812 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock valued at $88,126,000 after buying an additional 17,429 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock valued at $8,069,000 after buying an additional 15,874 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on SKX. Barclays cut their price target on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Stifel Nicolaus cut their target price on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. TD Cowen lifted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Raymond James dropped their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, UBS Group reduced their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.