Skechers U.S.A., Inc. (NYSE:SKX) Sees Significant Growth in Short Interest

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 6,860,000 shares, a growth of 73.7% from the January 31st total of 3,950,000 shares. Currently, 5.3% of the shares of the company are short sold. Based on an average trading volume of 2,220,000 shares, the days-to-cover ratio is currently 3.1 days.

Insider Transactions at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares of the company's stock, valued at $849,450. This represents a 42.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The stock was 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 directly owns 122,211 shares of the company's stock, valued at $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock worth $14,700,809 over the last three months. 24.75% of the stock is currently owned by company insiders.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its stake in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after purchasing an additional 190 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after purchasing an additional 358 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth about $32,000. UMB Bank n.a. boosted its stake 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 valued at $46,000 after buying an additional 239 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after buying an additional 317 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded up $1.59 during trading hours on Wednesday, hitting $59.35. The company's stock had a trading volume of 1,982,319 shares, compared to its average volume of 1,962,783. The company has a market cap of $8.96 billion, a PE ratio of 14.30, a PEG ratio of 1.11 and a beta of 1.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The business has a 50 day moving average price of $68.53 and a two-hundred day moving average price of $66.52. Skechers U.S.A. has a 12-month low of $55.67 and a 12-month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts' consensus estimates 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%. Analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SKX. Barclays cut their price target on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a report on Friday, February 7th. TD Cowen lifted 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. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.