Skechers U.S.A., Inc. (NYSE:SKX) COO Sells $1,635,233.88 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 26,913 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $1,635,233.88. Following the completion of the sale, the chief operating officer now owns 44,637 shares of the company’s stock, valued at $2,712,144.12. This represents a 37.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

David Weinberg also recently made the following trade(s):

• On Wednesday, February 12th, David Weinberg sold 36,000 shares of Skechers U.S.A. stock. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00.
• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12.

Skechers U.S.A. Stock Down 4.4 %

Shares of SKX traded down $2.66 during mid-day trading on Monday, hitting $58.33. 2,574,385 shares of the company’s stock were exchanged, compared to its average volume of 1,962,127. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $78.85. The company has a market cap of $8.81 billion, a PE ratio of 14.06, a P/E/G ratio of 1.11 and a beta of 1.19. The company has a 50-day simple moving average of $68.73 and a 200 day simple moving average of $66.57.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Institutional Trading of Skechers U.S.A.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares in the last quarter. Norges Bank acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $105,741,000. Duquesne Family Office LLC bought a new position in shares of Skechers U.S.A. in the fourth quarter valued at $72,272,000. Two Sigma Investments LP grew its stake in shares of Skechers U.S.A. by 772.7% in the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock valued at $79,107,000 after buying an additional 1,041,677 shares in the last quarter. Finally, Anomaly Capital Management LP increased its holdings in Skechers U.S.A. by 51.2% during the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock worth $200,981,000 after buying an additional 1,011,815 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on SKX shares. Raymond James lowered their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. UBS Group dropped their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Evercore ISI increased their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.