Skechers U.S.A., Inc. (NYSE:SKX) COO Sells $2,257,920.00 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the sale, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The stock was sold at an average price of $67.48, for a total value of $554,618.12.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $63.99 on Friday. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The stock has a fifty day simple moving average of $70.02 and a two-hundred day simple moving average of $66.47. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. Analysts anticipate that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current year.

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

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its position in shares of Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after acquiring an additional 364 shares in the last quarter. IFP Advisors Inc raised its position in shares of Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after buying an additional 317 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after buying an additional 299 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SKX has been the subject of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Evercore ISI upped their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. TD Cowen upped 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. UBS Group reduced their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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.