Skechers U.S.A., Inc. (NYSE:SKX) President Sells $693,289.52 in Stock

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) President Michael Greenberg sold 10,274 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares of the company's stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Skechers U.S.A. Trading Up 0.1 %

NYSE:SKX traded up $0.05 on Thursday, hitting $67.29. 1,538,955 shares of the stock were exchanged, compared to its average volume of 1,881,422. The stock has a market cap of $10.16 billion, a PE ratio of 16.57, a PEG ratio of 0.98 and a beta of 1.22. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $65.05 and a 200-day moving average of $65.80.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SKX shares. Barclays lifted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. TD Cowen cut their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Bank of America decreased their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock 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 research note on Thursday, December 19th. Finally, Needham & Company LLC began coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a "hold" rating for the company. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.00.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after buying an additional 2,594,507 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Skechers U.S.A. by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after acquiring an additional 11,026 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Skechers U.S.A. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker's stock valued at $130,350,000 after purchasing an additional 55,095 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Skechers U.S.A. by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock valued at $88,126,000 after purchasing an additional 17,429 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Skechers U.S.A. by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock valued at $68,630,000 after purchasing an additional 287,939 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

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.