Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) President Sells 33,656 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) President Michael Greenberg sold 33,656 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,044,938.56. Following the completion of the transaction, the president now owns 137,530 shares in the company, valued at approximately $8,356,322.80. The trade was a 19.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Michael Greenberg also recently made the following trade(s):

• On Tuesday, December 31st, Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock. The shares were sold at an average price of $67.48, for a total value of $693,289.52.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.04 during midday trading on Friday, reaching $59.06. The company's stock had a trading volume of 3,942,882 shares, compared to its average volume of 1,975,190. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market capitalization of $8.92 billion, a P/E ratio of 14.23, a PEG ratio of 1.11 and a beta of 1.21. The firm has a 50 day moving average price of $68.18 and a 200-day moving average price of $66.42. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85.

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Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.73% and a net margin of 7.13%. As a group, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 7th. TD Cowen lifted their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. UBS Group decreased their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Barclays dropped their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Finally, StockNews.com downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.25.

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

Several institutional investors have recently added to or reduced their stakes in SKX. Spire Wealth Management grew its position in shares of Skechers U.S.A. by 11.6% during the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after acquiring an additional 155 shares during the period. Calamos Wealth Management LLC lifted its stake in Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock valued at $1,228,000 after purchasing an additional 157 shares during the last quarter. Cerity Partners LLC grew its holdings in Skechers U.S.A. by 1.2% during the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock valued at $947,000 after purchasing an additional 172 shares during the period. NewEdge Advisors LLC increased its position 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 worth $28,000 after buying an additional 190 shares during the last quarter. Finally, Lindenwold Advisors INC increased its position in Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker's stock worth $446,000 after buying an additional 195 shares during the last quarter. 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.