Insider Selling: Skechers USA Inc (NYSE:SKX) Director Sells 40,000 Shares of Stock

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Skechers USA Inc (NYSE:SKX) Director Jeffrey Greenberg sold 40,000 shares of Skechers USA stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $39.77, for a total value of $1,590,800.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

  • On Monday, November 18th, Jeffrey Greenberg sold 16,152 shares of Skechers USA stock. The shares were sold at an average price of $41.00, for a total value of $662,232.00.
  • On Tuesday, November 5th, Jeffrey Greenberg sold 30,000 shares of Skechers USA stock. The stock was sold at an average price of $39.00, for a total value of $1,170,000.00.
  • On Friday, November 1st, Jeffrey Greenberg sold 90,000 shares of Skechers USA stock. The stock was sold at an average price of $37.44, for a total value of $3,369,600.00.
  • On Tuesday, October 1st, Jeffrey Greenberg sold 90,000 shares of Skechers USA stock. The stock was sold at an average price of $37.05, for a total value of $3,334,500.00.
  • On Wednesday, September 18th, Jeffrey Greenberg sold 100,000 shares of Skechers USA stock. The shares were sold at an average price of $34.53, for a total transaction of $3,453,000.00.
  • On Friday, September 13th, Jeffrey Greenberg sold 30,000 shares of Skechers USA stock. The shares were sold at an average price of $37.00, for a total transaction of $1,110,000.00.
  • On Monday, September 9th, Jeffrey Greenberg sold 60,000 shares of Skechers USA stock. The shares were sold at an average price of $35.00, for a total transaction of $2,100,000.00.

Shares of NYSE SKX traded down $0.92 during mid-day trading on Tuesday, reaching $38.75. 40,096 shares of the company’s stock were exchanged, compared to its average volume of 1,007,425. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.19 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.57 and a current ratio of 2.37. Skechers USA Inc has a 52-week low of $21.45 and a 52-week high of $41.31. The company’s 50-day moving average is $38.88 and its 200-day moving average is $34.50.

Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Tuesday, October 22nd. The textile maker reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). Skechers USA had a net margin of 6.73% and a return on equity of 14.85%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities analysts predict that Skechers USA Inc will post 2.25 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Skechers USA by 0.9% in the 2nd quarter. BlackRock Inc. now owns 11,776,053 shares of the textile maker’s stock valued at $370,827,000 after acquiring an additional 104,462 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Skechers USA by 33.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,986,576 shares of the textile maker’s stock worth $223,599,000 after acquiring an additional 1,500,268 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Skechers USA by 120.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,891,267 shares of the textile maker’s stock worth $121,213,000 after purchasing an additional 2,129,743 shares during the period. Tremblant Capital Group boosted its position in shares of Skechers USA by 20.3% during the 2nd quarter. Tremblant Capital Group now owns 2,353,232 shares of the textile maker’s stock worth $74,103,000 after purchasing an additional 397,260 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Skechers USA by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,195,293 shares of the textile maker’s stock valued at $37,640,000 after purchasing an additional 26,494 shares during the last quarter. Institutional investors and hedge funds own 75.95% of the company’s stock.

Several equities research analysts recently issued reports on SKX shares. ValuEngine cut shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley boosted their target price on shares of Skechers USA from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Zacks Investment Research increased their price target on shares of Skechers USA to $42.50 in a research note on Tuesday, October 15th. Finally, Wedbush set a $46.00 price target on shares of Skechers USA and gave the company a “buy” rating in a research note on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Skechers USA currently has a consensus rating of “Hold” and an average price target of $41.72.

Skechers USA Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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