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 the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Skechers U.S.A. Stock Up 0.1 %

Shares of SKX opened at $67.29 on Friday. The stock has a 50 day moving average price of $65.05 and a 200 day moving average price of $65.80. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $75.09. 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 stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its stake in shares of Skechers U.S.A. by 3.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 66,273 shares of the textile maker’s stock worth $4,581,000 after acquiring an additional 2,002 shares during the last quarter. CIBC Asset Management Inc grew its stake in Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after purchasing an additional 173 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Skechers U.S.A. during the second quarter worth approximately $354,000. TD Asset Management Inc lifted its stake in Skechers U.S.A. by 5.7% in the second quarter. TD Asset Management Inc now owns 32,838 shares of the textile maker’s stock worth $2,270,000 after acquiring an additional 1,764 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Skechers U.S.A. by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 38,061 shares of the textile maker’s stock worth $2,631,000 after acquiring an additional 1,346 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SKX shares. Piper Sandler assumed coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target for the company. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Barclays lifted their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

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.