Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg Sells 8,219 Shares

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded up $0.05 on Thursday, hitting $67.29. The company had a trading volume of 1,534,021 shares, compared to its average volume of 1,881,422. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09. 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 company has a market cap of $10.16 billion, a PE ratio of 16.57, a PEG ratio of 0.98 and a beta of 1.22. The business has a 50-day simple moving average of $64.94 and a 200-day simple moving average of $65.79.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts expect that Skechers U.S.A., Inc. will post 4.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SKX. TD Cowen cut their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Bank of America cut their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Barclays boosted their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Piper Sandler assumed 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 objective on the stock. Finally, StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.00.

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

Several hedge funds and other institutional investors have recently bought and sold shares of SKX. CIBC Asset Management Inc increased its holdings in shares of Skechers U.S.A. by 4.7% in the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after buying an additional 173 shares in the last quarter. Lindenwold Advisors INC grew its holdings in shares of Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after acquiring an additional 195 shares during the last quarter. X Square Capital LLC raised its position in shares of Skechers U.S.A. by 0.5% during the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock worth $2,827,000 after purchasing an additional 215 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of Skechers U.S.A. by 2.8% during the third quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock valued at $586,000 after purchasing an additional 236 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Skechers U.S.A. by 18.8% in the 3rd quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after purchasing an additional 265 shares during the period. 79.96% of the stock is currently owned by institutional investors.

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.