Skechers USA Target of Unusually Large Options Trading (NYSE:SKX)

Skechers USA Inc (NYSE:SKX) saw unusually large options trading activity on Thursday. Traders acquired 18,034 put options on the stock. This represents an increase of 2,118% compared to the average daily volume of 813 put options.

SKX has been the subject of a number of research reports. B. Riley restated a “buy” rating on shares of Skechers USA in a report on Friday, April 26th. Wedbush upgraded shares of Skechers USA from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $31.00 to $46.00 in a report on Friday. Monness Crespi & Hardt restated a “buy” rating and issued a $42.00 price target (up from $35.00) on shares of Skechers USA in a report on Friday. They noted that the move was a valuation call. UBS Group restated an “outperform” rating and issued a $100.00 price target (up from $90.00) on shares of Crowdstrike in a report on Friday. They noted that the move was a valuation call. Finally, Susquehanna Bancshares raised their price target on shares of Skechers USA from $37.00 to $42.00 and gave the stock a “positive” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $37.33.

Skechers USA stock opened at $39.01 on Friday. Skechers USA has a 1-year low of $21.45 and a 1-year high of $40.50. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The firm has a fifty day simple moving average of $31.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.91 and a quick ratio of 2.00.

Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, July 18th. The textile maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. Skechers USA had a net margin of 6.26% and a return on equity of 13.56%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Skechers USA will post 2.03 earnings per share for the current fiscal year.

In other Skechers USA news, CEO Robert Greenberg sold 25,210 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total value of $785,795.70. Following the completion of the sale, the chief executive officer now directly owns 625,210 shares in the company, valued at $19,487,795.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Rappaport sold 3,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $31.29, for a total transaction of $93,870.00. Following the completion of the sale, the director now owns 23,000 shares of the company’s stock, valued at $719,670. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,690 shares of company stock valued at $2,900,456. 28.08% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in shares of Skechers USA by 91.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,269 shares of the textile maker’s stock worth $349,000 after acquiring an additional 7,279 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Skechers USA by 5.6% in the fourth quarter. Advisor Group Inc. now owns 25,769 shares of the textile maker’s stock worth $589,000 after acquiring an additional 1,378 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Skechers USA by 7.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 81,568 shares of the textile maker’s stock worth $1,733,000 after acquiring an additional 5,516 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Skechers USA by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 1,369,816 shares of the textile maker’s stock worth $31,355,000 after acquiring an additional 79,002 shares during the last quarter. Finally, Mackay Shields LLC acquired a new position in shares of Skechers USA in the fourth quarter worth $221,000. 76.45% of the stock is currently owned by hedge funds and other institutional investors.

Skechers USA Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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