Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) COO Sells $1,635,233.88 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 26,913 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $1,635,233.88. Following the transaction, the chief operating officer now directly owns 44,637 shares of the company’s stock, valued at $2,712,144.12. The trade was a 37.61 % 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 hyperlink.

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

• On Wednesday, February 12th, David Weinberg sold 36,000 shares of Skechers U.S.A. stock. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00.
• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12.

Skechers U.S.A. Stock Up 2.7 %

NYSE SKX opened at $59.35 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company’s 50 day simple moving average is $68.36 and its 200 day simple moving average is $66.47. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85. The company has a market capitalization of $8.96 billion, a P/E ratio of 14.30, a PEG ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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 13.73%. Equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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

Large investors have recently made changes to their positions in the company. 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 during the period. 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 during the period. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $32,000. UMB Bank n.a. grew its position in 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 purchasing an additional 239 shares in the last quarter. Finally, IFP Advisors Inc grew its position in 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 purchasing an additional 317 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SKX shares. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Stifel Nicolaus dropped 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. Barclays dropped their price target 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. Finally, Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average price target 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.