Skechers U.S.A., Inc. (NYSE:SKX) General Counsel Sells $622,590.22 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the sale, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This represents a 42.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock traded up $0.19 on Tuesday, hitting $58.68. The stock had a trading volume of 1,715,171 shares, compared to its average volume of 1,960,888. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 1.11 and a beta of 1.19. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85. The company’s 50 day moving average price is $68.73 and its 200 day moving average price is $66.57.

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 13.73%. On average, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Institutional Investors Weigh In On Skechers U.S.A.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Skechers U.S.A. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker’s stock valued at $843,474,000 after purchasing an additional 82,143 shares in the last quarter. Anomaly Capital Management LP increased 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 valued at $200,981,000 after purchasing an additional 1,011,815 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after purchasing an additional 953,528 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Skechers U.S.A. by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker’s stock valued at $154,361,000 after purchasing an additional 78,071 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SKX shares. Raymond James cut their target price 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. Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Piper Sandler started coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Finally, TD Cowen increased their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus 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.