Skechers U.S.A. (NYSE:SKX) Trading Down 3.8% on Insider Selling

Skechers U.S.A., Inc. (NYSE:SKX) traded down 3.8% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $56.10 and last traded at $56.26. 713,959 shares traded hands during trading, a decline of 64% from the average session volume of 1,957,164 shares. The stock had previously closed at $58.49.

Specifically, CEO Robert Greenberg sold 40,924 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the completion of the sale, the chief executive officer now owns 51,342 shares in the company, valued at $3,119,539.92. The trade was a 44.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Greenberg sold 33,656 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the completion of the transaction, the president now owns 137,530 shares in the company, valued at $8,356,322.80. This represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, COO David Weinberg sold 26,913 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $1,635,233.88. Following the completion of the sale, the chief operating officer now owns 44,637 shares in the company, valued at approximately $2,712,144.12. The trade was a 37.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Evercore ISI lifted their price target 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. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th. UBS Group decreased their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company 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 for the company in a research note on Monday, February 10th. Finally, StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Stock Down 3.2 %

The firm has a fifty day moving average price of $68.73 and a 200 day moving average price of $66.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results 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%. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Institutional Trading of Skechers U.S.A.

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. lifted its stake in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after buying an additional 2,594,507 shares in the last quarter. Norges Bank purchased a new stake in Skechers U.S.A. during the 4th quarter worth about $105,741,000. Duquesne Family Office LLC acquired a new position in Skechers U.S.A. in the 4th quarter valued at about $72,272,000. Two Sigma Investments LP grew its holdings in shares of Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock worth $79,107,000 after buying an additional 1,041,677 shares in the last quarter. Finally, Anomaly Capital Management LP grew its stake in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock worth $200,981,000 after acquiring an additional 1,011,815 shares during the period. 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.