Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg Sells 10,274 Shares

Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $67.29 on Friday. The stock has a 50-day moving average of $65.05 and a 200-day moving average 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 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 P/E/G ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 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 firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.24 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SKX. Seven Eight Capital LP lifted its position in Skechers U.S.A. by 126.1% in the 2nd quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock valued at $2,033,000 after acquiring an additional 16,408 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after purchasing an additional 13,836 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock valued at $9,295,000 after purchasing an additional 25,289 shares in the last quarter. Transform Wealth LLC purchased a new position in shares of Skechers U.S.A. during the third quarter valued at approximately $7,186,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after buying an additional 17,429 shares in the last quarter. 79.96% of the stock is 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.