Skechers U.S.A., Inc. (NYSE:SKX) CFO Sells $310,605.12 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) CFO John M. Vandemore sold 5,112 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Skechers U.S.A. Stock Down 4.4 %

NYSE:SKX opened at $58.33 on Tuesday. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. 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 current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $68.73 and a 200-day simple moving average of $66.57.

Skechers U.S.A. (NYSE:SKX) last announced 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 13.73%. Analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Institutional Trading of Skechers U.S.A.

Large investors have recently modified their holdings of the company. Cim LLC raised its position in Skechers U.S.A. by 1.7% during the 4th quarter. Cim LLC now owns 19,271 shares of the textile maker’s stock valued at $1,296,000 after purchasing an additional 316 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Skechers U.S.A. during the fourth quarter valued at $1,110,000. Integrated Advisors Network LLC raised its holdings in shares of Skechers U.S.A. by 335.4% in the fourth quarter. Integrated Advisors Network LLC now owns 14,900 shares of the textile maker’s stock valued at $1,002,000 after acquiring an additional 11,478 shares in the last quarter. Peak Retirement Planning Inc. purchased a new stake in Skechers U.S.A. in the fourth quarter worth about $953,000. Finally, Formidable Asset Management LLC purchased a new stake in Skechers U.S.A. in the fourth quarter worth about $769,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analysts Set New Price Targets

SKX has been the topic of several recent analyst reports. Evercore ISI lifted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Raymond James dropped their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Piper Sandler began coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, UBS Group decreased their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

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.