Insider Selling: Skechers U.S.A., Inc. (NYSE:SKX) EVP Sells $795,999.68 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) EVP Mark A. Nason sold 12,046 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares in the company, valued at approximately $1,696,604. This trade represents a 31.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Skechers U.S.A. Stock Down 4.0 %

SKX opened at $63.01 on Friday. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market cap of $9.51 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.12 and a beta of 1.19. The stock’s 50 day moving average price is $69.61 and its 200 day moving average price is $66.53.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results 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%. As a group, research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Hedge Funds Weigh In On Skechers U.S.A.

Several hedge funds have recently modified their holdings of the company. Spire Wealth Management increased its position in shares of Skechers U.S.A. by 11.6% during the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 155 shares during the period. Calamos Wealth Management LLC increased its position in shares of Skechers U.S.A. by 0.9% during the 4th 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 increased its position in shares of Skechers U.S.A. by 1.2% during the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock valued at $947,000 after purchasing an additional 172 shares during the period. NewEdge Advisors LLC increased its position in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 190 shares during the period. Finally, Lindenwold Advisors INC increased its position in shares of 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 valued at $446,000 after purchasing an additional 195 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SKX. Deutsche Bank Aktiengesellschaft upped their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler initiated coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price on the stock. Barclays reduced their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Bank of America reduced their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, TD Cowen increased their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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.