Skechers U.S.A., Inc. (NYSE:SKX) CEO Robert Greenberg Sells 52,600 Shares

Skechers U.S.A., Inc. (NYSE:SKX) CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Skechers U.S.A. Trading Down 0.5 %

NYSE:SKX opened at $63.99 on Friday. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The business has a fifty day moving average price of $70.16 and a 200-day moving average price of $66.46.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data 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 13.81%. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SKX. CWM LLC increased its position in shares of Skechers U.S.A. by 4.4% during the third quarter. CWM LLC now owns 10,637 shares of the textile maker’s stock worth $712,000 after acquiring an additional 451 shares during the period. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after buying an additional 364 shares during the period. Transform Wealth LLC purchased a new position in Skechers U.S.A. in the third quarter worth $7,186,000. nVerses Capital LLC purchased a new position in Skechers U.S.A. in the third quarter worth $696,000. Finally, Blue Trust Inc. grew its holdings in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays dropped their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Piper Sandler started coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three research 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, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus 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.