Insider Selling: Skechers USA Inc (NYSE:SKX) Director Sells $1,170,000.00 in Stock

Skechers USA Inc (NYSE:SKX) Director Jeffrey Greenberg sold 30,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $39.00, for a total value of $1,170,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

  • On Friday, November 1st, Jeffrey Greenberg sold 90,000 shares of Skechers USA stock. The shares were 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 shares were 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 value 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 value 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 value of $2,100,000.00.

SKX opened at $39.53 on Friday. The firm has a market capitalization of $6.17 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.17 and a beta of 0.79. The stock’s 50 day moving average price is $37.06 and its two-hundred day moving average price is $33.38. The company has a quick ratio of 1.57, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. Skechers USA Inc has a 12-month low of $21.45 and a 12-month high of $40.50.

Skechers USA (NYSE:SKX) last released its earnings results on Tuesday, October 22nd. The textile maker reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.02). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Skechers USA had a net margin of 6.73% and a return on equity of 14.85%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. As a group, analysts anticipate that Skechers USA Inc will post 2.25 earnings per share for the current year.

Several large investors have recently made changes to their positions in SKX. Empirical Finance LLC grew its holdings in shares of Skechers USA by 1.1% during the 2nd quarter. Empirical Finance LLC now owns 53,757 shares of the textile maker’s stock worth $1,693,000 after purchasing an additional 601 shares in the last quarter. Palmer Knight Co grew its holdings in shares of Skechers USA by 1.3% during the 2nd quarter. Palmer Knight Co now owns 167,154 shares of the textile maker’s stock worth $5,264,000 after purchasing an additional 2,177 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Skechers USA by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 53,963 shares of the textile maker’s stock worth $1,699,000 after purchasing an additional 763 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Skechers USA during the 2nd quarter worth approximately $460,000. Finally, Oakbrook Investments LLC acquired a new stake in shares of Skechers USA during the 2nd quarter worth approximately $453,000. 76.27% of the stock is currently owned by institutional investors.

SKX has been the topic of a number of research analyst reports. Zacks Investment Research raised their target price on Skechers USA to $42.50 in a report on Tuesday, October 15th. Wedbush set a $46.00 target price on Skechers USA and gave the company a “buy” rating in a report on Monday, September 23rd. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $42.00 target price (up previously from $35.00) on shares of Skechers USA in a report on Friday, July 19th. They noted that the move was a valuation call. Wells Fargo & Co set a $40.00 target price on Skechers USA and gave the company a “hold” rating in a report on Friday, July 19th. Finally, ValuEngine lowered Skechers USA from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock presently 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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Insider Buying and Selling by Quarter for Skechers USA (NYSE:SKX)

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