Skechers USA Inc. (SKX) Director Thomas Walsh Sells 1,500 Shares
Skechers USA Inc. (NYSE:SKX) Director Thomas Walsh sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $22.64, for a total transaction of $33,960.00. Following the completion of the transaction, the director now owns 11,500 shares of the company’s stock, valued at approximately $260,360. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Skechers USA Inc. (NYSE:SKX) traded up 0.63% during trading on Monday, reaching $22.28. 2,347,803 shares of the company were exchanged. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 12.95 and a beta of 0.27. Skechers USA Inc. has a 52-week low of $18.81 and a 52-week high of $34.27. The stock’s 50-day moving average is $21.56 and its 200-day moving average is $25.47.
Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The business had revenue of $942.40 million for the quarter, compared to the consensus estimate of $954.38 million. Skechers USA had a net margin of 7.56% and a return on equity of 17.44%. Skechers USA’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. Equities research analysts predict that Skechers USA Inc. will post $1.63 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the stock. Vetr cut shares of Skechers USA from a “strong-buy” rating to a “buy” rating and set a $24.59 price objective for the company. in a research report on Tuesday, November 15th. B. Riley reaffirmed a “neutral” rating and set a $24.00 target price on shares of Skechers USA in a report on Tuesday, November 8th. Standpoint Research reaffirmed a “buy” rating on shares of Skechers USA in a report on Monday, November 7th. Wedbush began coverage on shares of Skechers USA in a report on Tuesday, November 1st. They set a “neutral” rating and a $23.00 target price for the company. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Skechers USA in a report on Friday, October 21st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.04.
Several institutional investors have recently added to or reduced their stakes in SKX. Envestnet Asset Management Inc. increased its position in Skechers USA by 15.1% in the first quarter. Envestnet Asset Management Inc. now owns 45,871 shares of the company’s stock valued at $1,397,000 after buying an additional 6,035 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Skechers USA by 3.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 123,819 shares of the company’s stock valued at $3,770,000 after buying an additional 3,950 shares during the last quarter. LPL Financial LLC increased its position in Skechers USA by 28.2% in the first quarter. LPL Financial LLC now owns 67,214 shares of the company’s stock valued at $1,907,000 after buying an additional 14,782 shares during the last quarter. Arizona State Retirement System increased its position in Skechers USA by 5.9% in the first quarter. Arizona State Retirement System now owns 71,640 shares of the company’s stock valued at $2,181,000 after buying an additional 4,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Skechers USA during the first quarter valued at about $1,457,000. 61.06% of the stock is owned by hedge funds and other institutional investors.
About Skechers USA
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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