Insider Selling: Skechers USA Inc (NYSE:SKX) Director Sells 16,152 Shares of Stock

Skechers USA Inc (NYSE:SKX) Director Jeffrey Greenberg sold 16,152 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $41.00, for a total transaction of $662,232.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Tuesday, November 5th, Jeffrey Greenberg sold 30,000 shares of Skechers USA stock. The shares were sold at an average price of $39.00, for a total transaction of $1,170,000.00.
  • 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $2,100,000.00.

Shares of SKX stock traded down $0.23 during trading hours on Tuesday, hitting $40.79. 20,045 shares of the company were exchanged, compared to its average volume of 1,529,656. The firm has a market cap of $6.34 billion, a PE ratio of 21.23, a PEG ratio of 1.20 and a beta of 0.79. Skechers USA Inc has a 1 year low of $21.45 and a 1 year high of $41.31. The company has a quick ratio of 1.57, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $37.79 and a 200 day moving average of $33.78.

Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Tuesday, October 22nd. The textile maker reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.02). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Skechers USA had a return on equity of 14.85% and a net margin of 6.73%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 earnings per share. Analysts expect that Skechers USA Inc will post 2.25 earnings per share for the current year.

A number of research firms have issued reports on SKX. Wedbush set a $46.00 target price on shares of Skechers USA and gave the company a “buy” rating in a report on Monday, September 23rd. Morgan Stanley upped their target price on shares of Skechers USA from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Zacks Investment Research upped their target price on shares of Skechers USA to $42.50 in a report on Tuesday, October 15th. Finally, ValuEngine lowered shares of 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 issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.72.

Several hedge funds have recently made changes to their positions in SKX. NuWave Investment Management LLC increased its position in Skechers USA by 271.4% during the 3rd quarter. NuWave Investment Management LLC now owns 713 shares of the textile maker’s stock worth $26,000 after purchasing an additional 521 shares in the last quarter. Meeder Asset Management Inc. increased its position in Skechers USA by 1,270.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,028 shares of the textile maker’s stock worth $39,000 after purchasing an additional 953 shares in the last quarter. Hanseatic Management Services Inc. acquired a new stake in Skechers USA during the 2nd quarter worth approximately $43,000. Cerebellum GP LLC acquired a new stake in Skechers USA during the 3rd quarter worth approximately $63,000. Finally, Machina Capital S.A.S. acquired a new stake in Skechers USA during the 2nd quarter worth approximately $120,000. Institutional investors and hedge funds own 76.44% of the company’s stock.

About Skechers USA

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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