Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg Sells 36,000 Shares

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 36,000 shares of the company’s 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 $2,257,920.00. Following the completion of the transaction, the chief operating officer now owns 54,499 shares in the company, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

David Weinberg also recently made the following trade(s):

• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $63.99 on Friday. The firm has a market cap of $9.66 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The business has a 50 day moving average price of $70.02 and a 200-day moving average price of $66.47.

Skechers U.S.A. (NYSE:SKX) last released 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%. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus decreased their price objective 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. Morgan Stanley upped their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Evercore ISI upped their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Raymond James cut their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, UBS Group cut their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Hedge Funds Weigh In On Skechers U.S.A.

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised 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 acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of 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 acquiring an additional 358 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of 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 acquiring an additional 364 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Skechers U.S.A. by 62.4% during the fourth 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. Finally, Venturi Wealth Management LLC raised its holdings in shares of Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 299 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

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.