Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) COO Sells 36,000 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $2,257,920.00. Following the transaction, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $67.48, for a total value of $554,618.12.

Skechers U.S.A. Stock Down 0.5 %

SKX opened at $63.99 on Friday. The business has a 50 day moving average price of $70.16 and a 200 day moving average price of $66.46. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month 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 firm has a market cap of $9.66 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. Research analysts forecast that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bwcp LP lifted its holdings in shares of Skechers U.S.A. by 21.9% during the fourth quarter. Bwcp LP now owns 377,024 shares of the textile maker’s stock worth $25,351,000 after buying an additional 67,635 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Skechers U.S.A. by 2.6% during the fourth quarter. AQR Capital Management LLC now owns 1,028,548 shares of the textile maker’s stock worth $69,160,000 after buying an additional 26,373 shares during the last quarter. Perbak Capital Partners LLP acquired a new position in shares of Skechers U.S.A. during the fourth quarter worth approximately $275,000. Northern Trust Corp lifted its holdings in shares of Skechers U.S.A. by 29.6% during the fourth quarter. Northern Trust Corp now owns 1,171,106 shares of the textile maker’s stock worth $78,745,000 after buying an additional 267,778 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Skechers U.S.A. by 604.2% during the fourth quarter. Tudor Investment Corp ET AL now owns 103,692 shares of the textile maker’s stock worth $6,972,000 after buying an additional 88,968 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SKX shares. TD Cowen lifted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler started coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price on the stock. Morgan Stanley boosted their price target on 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. Evercore ISI boosted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.