Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg Sells 26,913 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 26,913 shares of Skechers U.S.A. stock in a transaction 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. This represents a 37.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

David Weinberg also recently made the following trade(s):

• On Wednesday, February 12th, David Weinberg sold 36,000 shares of Skechers U.S.A. stock. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00.
• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The shares were sold at an average price of $67.48, for a total value of $554,618.12.

Skechers U.S.A. Trading Down 4.4 %

SKX opened at $58.33 on Tuesday. 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 stock’s 50 day moving average price is $68.73 and its 200-day moving average price is $66.57. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The stock has a market cap of $8.81 billion, a price-to-earnings 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 announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS 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 forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James decreased 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 research note on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Evercore ISI boosted 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 report on Tuesday, January 28th. Finally, 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 report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. has an average rating of “Moderate Buy” and an average price target of $81.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management grew its stake in Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after acquiring an additional 155 shares in the last quarter. Calamos Wealth Management LLC boosted its holdings in shares of Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after purchasing an additional 157 shares during the period. Cerity Partners LLC grew its stake in Skechers U.S.A. by 1.2% in the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock worth $947,000 after purchasing an additional 172 shares in the last quarter. 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 worth $28,000 after purchasing an additional 190 shares during the period. Finally, Lindenwold Advisors INC increased its holdings in Skechers U.S.A. by 3.0% during the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.