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 stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $2,044,938.56. Following the transaction, the president now directly owns 137,530 shares of the company’s stock, valued at $8,356,322.80. The trade was a 19.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 value of $693,289.52.

Skechers U.S.A. Trading Down 4.4 %

NYSE SKX opened at $58.33 on Tuesday. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $78.85. The firm has a 50 day moving average of $68.73 and a two-hundred day moving average of $66.57. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $8.81 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last issued its 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 return on equity of 13.73% and a net margin of 7.13%. As a group, research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Skechers U.S.A.

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

Analyst Upgrades and Downgrades

SKX has been the topic of a number of research reports. UBS Group decreased their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Stifel Nicolaus decreased their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. TD Cowen upped 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 research note on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Finally, Evercore ISI upped their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.