Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) President Sells $2,044,938.56 in Stock

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

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 stock was sold at an average price of $67.48, for a total transaction of $693,289.52.

Skechers U.S.A. Stock Up 2.7 %

Skechers U.S.A. stock opened at $59.35 on Thursday. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The firm’s fifty day moving average price is $68.36 and its two-hundred day moving average price is $66.47. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results 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 net margin of 7.13% and a return on equity of 13.73%. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Cim LLC raised its position in Skechers U.S.A. by 1.7% in the 4th quarter. Cim LLC now owns 19,271 shares of the textile maker’s stock valued at $1,296,000 after buying an additional 316 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth $1,110,000. Integrated Advisors Network LLC raised its holdings in shares of Skechers U.S.A. by 335.4% in the fourth quarter. Integrated Advisors Network LLC now owns 14,900 shares of the textile maker’s stock valued at $1,002,000 after purchasing an additional 11,478 shares during the last quarter. Peak Retirement Planning Inc. purchased a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $953,000. Finally, Formidable Asset Management LLC bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $769,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SKX shares. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Barclays decreased their target price 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. UBS Group dropped their price target 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. Raymond James reduced their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.