Skechers U.S.A., Inc. (NYSE:SKX) Short Interest Up 73.7% in February

Skechers U.S.A., Inc. (NYSE:SKX) was the recipient of a large growth in short interest in 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. Based on an average daily volume of 2,220,000 shares, the short-interest ratio is currently 3.1 days. Approximately 5.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SKX shares. Evercore ISI upped their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. TD Cowen raised their target price on 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 report on Friday, February 7th. Barclays dropped their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Stifel Nicolaus reduced 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 report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock traded down $1.95 during midday trading on Tuesday, reaching $56.54. 459,514 shares of the stock traded hands, compared to its average volume of 1,956,317. The firm has a fifty day moving average price of $68.73 and a two-hundred day moving average price of $66.57. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.11 and a beta of 1.19. 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. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85.

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

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,744 shares of company stock valued at $14,078,219 in the last ninety days. Corporate insiders own 24.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in shares of Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after buying an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Skechers U.S.A. in the fourth quarter worth about $32,000. UMB Bank n.a. raised its holdings in shares of 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 acquiring an additional 239 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 317 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.