Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) CFO Sells 5,112 Shares of Stock

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

Skechers U.S.A. Price Performance

Skechers U.S.A. stock traded down $2.66 during mid-day trading on Monday, reaching $58.33. The company had a trading volume of 2,574,385 shares, compared to its average volume of 1,962,127. The stock’s 50-day simple moving average is $68.73 and its 200-day simple moving average is $66.57. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company has a market capitalization of $8.81 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data 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 13.73%. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $32,000. UMB Bank n.a. increased its stake in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SKX. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Barclays lowered their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Raymond James dropped their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Evercore ISI raised their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. 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.