Skechers U.S.A., Inc. (NYSE:SKX) Short Interest Update

Skechers U.S.A., Inc. (NYSE:SKX) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 4,240,000 shares, a decline of 22.1% from the December 15th total of 5,440,000 shares. Based on an average daily trading volume, of 2,000,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 3.3% of the company’s shares are sold short.

Insider Buying and Selling at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The shares were 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 in the company, valued at $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is owned by company insiders.

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

A number of institutional investors have recently made changes to their positions in SKX. Pacer Advisors Inc. grew its stake in Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after buying an additional 2,594,507 shares during the last quarter. Commerce Bank grew its stake in Skechers U.S.A. by 949.5% during the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock worth $31,303,000 after buying an additional 423,204 shares during the last quarter. Coronation Fund Managers Ltd. grew its stake in Skechers U.S.A. by 378.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after buying an additional 394,618 shares during the last quarter. Wellington Management Group LLP grew its stake in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after buying an additional 287,939 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Skechers U.S.A. by 646.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker’s stock worth $22,348,000 after buying an additional 280,000 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.75 during trading on Friday, reaching $70.09. The stock had a trading volume of 1,755,508 shares, compared to its average volume of 1,565,301. Skechers U.S.A. has a one year low of $55.67 and a one year high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The stock has a market cap of $10.58 billion, a PE ratio of 17.26, a P/E/G ratio of 0.86 and a beta of 1.19. The firm’s 50 day moving average price is $66.81 and its two-hundred day moving average price is $65.66.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SKX shares. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays boosted their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Bank of America reduced their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. TD Cowen upped their target price on 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. Finally, Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.42.

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.