Skechers U.S.A., Inc. (NYSE:SKX) Short Interest Down 22.1% in December

Skechers U.S.A., Inc. (NYSE:SKX) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 4,240,000 shares, a decrease of 22.1% from the December 15th total of 5,440,000 shares. Based on an average trading volume of 2,000,000 shares, the short-interest ratio is presently 2.1 days. Currently, 3.3% of the shares of the company are short sold.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at $8,246,798.28. The trade was a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Skechers U.S.A.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lindenwold Advisors INC boosted 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 worth $446,000 after purchasing an additional 195 shares in the last quarter. Edgestream Partners L.P. raised its stake in Skechers U.S.A. by 2.8% during the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock worth $586,000 after buying an additional 236 shares during the period. UMB Bank n.a. boosted its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares in the last quarter. Covestor Ltd grew its stake in Skechers U.S.A. by 18.8% in the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after acquiring an additional 265 shares during the period. Finally, QRG Capital Management Inc. grew its stake in Skechers U.S.A. by 2.6% in the third quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock valued at $747,000 after acquiring an additional 284 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SKX shares. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating on the stock. TD Cowen boosted their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler began coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.42.

Skechers U.S.A. Trading Up 1.1 %

Shares of SKX stock traded up $0.75 during trading hours on Friday, hitting $70.09. 1,755,508 shares of the company’s stock traded hands, compared to its average volume of 1,565,301. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a 12 month low of $55.67 and a 12 month high of $75.09. The stock has a market cap of $10.58 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19. The stock’s 50 day simple moving average is $66.81 and its 200 day simple moving average is $65.66.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. On average, sell-side analysts anticipate that Skechers U.S.A. will post 4.24 EPS for the current year.

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.