Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg Sells 67,390 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKXGet Free Report) COO David Weinberg sold 67,390 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the transaction, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $58.91 on Friday. The firm has a market capitalization of $9.07 billion, a P/E ratio of 16.88 and a beta of 1.36. The company has a quick ratio of 1.46, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $61.70 and its two-hundred day simple moving average is $54.48. Skechers U.S.A., Inc. has a twelve month low of $41.56 and a twelve month high of $65.17.

Skechers U.S.A. (NYSE:SKXGet Free Report) last announced its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 3.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SKX shares. Monness Crespi & Hardt upped their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Raymond James dropped their price target on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Stifel Nicolaus decreased their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Finally, Wedbush decreased their price objective on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, February 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $64.56.

Check Out Our Latest Stock Report on Skechers U.S.A.

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

Institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $350,000. Johnson Financial Group Inc. increased its position in shares of Skechers U.S.A. by 170.7% during the 4th quarter. Johnson Financial Group Inc. now owns 8,083 shares of the textile maker’s stock valued at $504,000 after purchasing an additional 5,097 shares during the last quarter. US Bancorp DE increased its position in shares of Skechers U.S.A. by 13.1% during the 4th quarter. US Bancorp DE now owns 1,618 shares of the textile maker’s stock valued at $101,000 after purchasing an additional 187 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Skechers U.S.A. by 7.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,423 shares of the textile maker’s stock valued at $463,000 after purchasing an additional 525 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $1,837,000. 80.54% of the stock is currently owned by institutional investors.

About Skechers U.S.A.

(Get Free Report)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.

Featured Articles

Insider Buying and Selling by Quarter for Skechers U.S.A. (NYSE:SKX)

Receive News & Ratings for Skechers U.S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. and related companies with MarketBeat.com's FREE daily email newsletter.