Michael Greenberg Sells 33,656 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg sold 33,656 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,044,938.56. Following the sale, the president now owns 137,530 shares in the company, valued at $8,356,322.80. This trade represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Michael Greenberg also recently made the following trade(s):

• On Tuesday, December 31st, Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock. The stock was sold at an average price of $67.48, for a total value of $693,289.52.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $59.35 on Thursday. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85. The business’s fifty day moving average is $68.36 and its 200 day moving average is $66.47. 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 cap of $8.96 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.11 and a beta of 1.21.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen increased their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler began coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price for the company. UBS Group decreased their price target 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. Raymond James dropped their price objective on 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. Finally, StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Raymond James & Associates raised its position in shares of Skechers U.S.A. by 192.7% in the third quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock worth $3,518,000 after buying an additional 34,612 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at about $289,000. Harbor Capital Advisors Inc. raised its holdings in shares of Skechers U.S.A. by 241.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 89,561 shares of the textile maker’s stock valued at $5,993,000 after acquiring an additional 63,328 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in shares of Skechers U.S.A. by 378.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after acquiring an additional 394,618 shares during the last quarter. Finally, Intact Investment Management Inc. grew its holdings in shares of Skechers U.S.A. by 42.3% during the third quarter. Intact Investment Management Inc. now owns 14,420 shares of the textile maker’s stock worth $965,000 after purchasing an additional 4,290 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

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.