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

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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 stock was sold at an average price of $67.48, for a total transaction of $554,618.12.

Skechers U.S.A. Stock Up 2.4 %

NYSE SKX opened at $64.41 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The business has a 50 day moving average price of $70.28 and a two-hundred day moving average price of $66.48. The stock has a market cap of $9.72 billion, a PE ratio of 15.52, a P/E/G ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced 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 net margin of 7.13% and a return on equity of 13.81%. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on SKX shares. Morgan Stanley upped their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Barclays reduced their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday. Bank of America decreased their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Raymond James cut their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Institutional Trading of Skechers U.S.A.

Several large investors have recently modified their holdings of SKX. Sanctuary Advisors LLC boosted its holdings in 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 valued at $1,822,000 after purchasing an additional 13,836 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Skechers U.S.A. by 22.3% in the 3rd 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 3rd quarter valued at approximately $7,186,000. National Bank of Canada FI grew its position in shares of Skechers U.S.A. by 2,340.0% during the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after buying an additional 67,812 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Skechers U.S.A. by 1.3% in 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 during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.