David Weinberg Sells 36,000 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 36,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Weinberg also recently made the following trade(s):

• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The stock was sold at an average price of $67.48, for a total value of $554,618.12.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $63.99 on Friday. The business’s 50-day moving average price is $70.16 and its 200 day moving average price is $66.46. The firm has a market cap of $9.66 billion, a P/E ratio of 15.42, a PEG ratio of 0.95 and a beta of 1.19. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85. 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. (NYSE:SKX) last released its earnings results 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 13.81% and a net margin of 7.13%. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SKX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler initiated 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. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Stifel Nicolaus lowered their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, UBS Group lowered their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Hedge Funds Weigh In On Skechers U.S.A.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after purchasing an additional 2,594,507 shares in the last quarter. Norges Bank purchased a new position in Skechers U.S.A. in the 4th quarter worth about $105,741,000. Anomaly Capital Management LP increased its stake in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock worth $200,981,000 after purchasing an additional 1,011,815 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after purchasing an additional 953,528 shares in the last quarter. Finally, Commerce Bank increased its stake in Skechers U.S.A. by 949.5% in the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock worth $31,303,000 after purchasing an additional 423,204 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.