Skechers U.S.A., Inc. (NYSE:SKX) CFO Sells $310,605.12 in Stock

Skechers U.S.A., Inc. (NYSE:SKX) CFO John M. Vandemore sold 5,112 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. This represents a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Skechers U.S.A. Trading Down 1.3 %

NYSE:SKX opened at $57.74 on Wednesday. The company has a market cap of $8.72 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.11 and a beta of 1.19. The stock’s fifty day moving average price is $68.53 and its two-hundred day moving average price is $66.52. 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 debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. As a group, analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cim LLC raised its position in shares of Skechers U.S.A. by 1.7% in the fourth quarter. Cim LLC now owns 19,271 shares of the textile maker’s stock worth $1,296,000 after buying an additional 316 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth $1,110,000. Integrated Advisors Network LLC raised its position in shares of Skechers U.S.A. by 335.4% in the fourth quarter. Integrated Advisors Network LLC now owns 14,900 shares of the textile maker’s stock worth $1,002,000 after buying an additional 11,478 shares in the last quarter. Peak Retirement Planning Inc. purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth $953,000. Finally, Formidable Asset Management LLC purchased a new stake in Skechers U.S.A. during the fourth quarter valued at about $769,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SKX. 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. Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Finally, Barclays reduced their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.