Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg Sells 33,656 Shares

Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg sold 33,656 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the transaction, the president now owns 137,530 shares in the company, valued at approximately $8,356,322.80. This trade represents a 19.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, December 31st, Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $58.33 on Tuesday. 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 capitalization of $8.81 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.11 and a beta of 1.19. The firm’s 50 day simple moving average is $68.73 and its 200-day simple moving average is $66.57. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last released its quarterly 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%. Analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of research analyst reports. Piper Sandler started coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target for the company. Stifel Nicolaus lowered their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 7th. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. TD Cowen raised their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Barclays dropped their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has an average rating of “Moderate Buy” and a consensus target price of $81.25.

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

Several institutional investors and hedge funds have recently modified their holdings of SKX. Raymond James & Associates grew its holdings in Skechers U.S.A. by 192.7% in the third quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock valued at $3,518,000 after purchasing an additional 34,612 shares during the period. Private Advisor Group LLC purchased a new position in shares of Skechers U.S.A. during the 3rd quarter valued at approximately $289,000. Harbor Capital Advisors Inc. lifted its position in shares of Skechers U.S.A. by 241.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 89,561 shares of the textile maker’s stock valued at $5,993,000 after buying an additional 63,328 shares in the last quarter. Coronation Fund Managers Ltd. grew its stake in Skechers U.S.A. by 378.6% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after acquiring an additional 394,618 shares during the period. Finally, Intact Investment Management Inc. increased its holdings in Skechers U.S.A. by 42.3% in the 3rd quarter. Intact Investment Management Inc. now owns 14,420 shares of the textile maker’s stock worth $965,000 after acquiring an additional 4,290 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.