Insider Selling: Skechers U.S.A., Inc. (SKX) President Sells $4,779,000.00 in Stock
Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $31.86, for a total value of $4,779,000.00. Following the transaction, the president now owns 251,679 shares in the company, valued at approximately $8,018,492.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Skechers U.S.A., Inc. (NYSE:SKX) opened at $31.26 on Friday. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $4,952.52, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.32 and a beta of 0.11. Skechers U.S.A., Inc. has a twelve month low of $19.65 and a twelve month high of $34.87.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Skechers U.S.A. had a return on equity of 13.70% and a net margin of 6.38%. Skechers U.S.A.’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. equities research analysts anticipate that Skechers U.S.A., Inc. will post 1.69 earnings per share for the current fiscal year.
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Several equities research analysts have recently commented on SKX shares. Vetr raised Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $32.12 price target on the stock in a research note on Monday, July 10th. Buckingham Research set a $34.00 price target on Skechers U.S.A. and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Citigroup Inc. boosted their price target on Skechers U.S.A. from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. B. Riley reissued a “buy” rating and set a $37.00 price target on shares of Skechers U.S.A. in a research note on Friday, July 21st. Finally, Cowen and Company set a $35.00 price target on Skechers U.S.A. and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Skechers U.S.A. presently has an average rating of “Buy” and an average target price of $34.64.
Several hedge funds have recently added to or reduced their stakes in SKX. BlackRock Inc. increased its holdings in shares of Skechers U.S.A. by 3,136.5% during the 1st quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock worth $307,170,000 after buying an additional 10,844,421 shares during the last quarter. Mik Capital LLC acquired a new stake in shares of Skechers U.S.A. during the 2nd quarter worth $56,285,000. Amerigo Asset Management increased its holdings in shares of Skechers U.S.A. by 38.2% during the 2nd quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock worth $180,960,000 after buying an additional 1,694,253 shares during the last quarter. State Street Corp increased its holdings in shares of Skechers U.S.A. by 47.2% during the 2nd quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock worth $148,423,000 after buying an additional 1,613,977 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Skechers U.S.A. by 125.7% during the 2nd quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock worth $67,919,000 after buying an additional 1,282,260 shares during the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.
About Skechers U.S.A.
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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