Skechers U.S.A., Inc. (NYSE:SKX) CFO John M. Vandemore Sells 5,112 Shares

Skechers U.S.A., Inc. (NYSE:SKX) CFO John M. Vandemore sold 5,112 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Skechers U.S.A. Trading Down 4.4 %

NYSE SKX opened at $58.33 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85. The firm has a market capitalization of $8.81 billion, a PE ratio of 14.06, a P/E/G ratio of 1.11 and a beta of 1.19. The stock’s 50 day moving average is $68.73 and its 200 day moving average is $66.57.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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

Several hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management boosted its holdings in Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after acquiring an additional 155 shares in the last quarter. Calamos Wealth Management LLC raised its stake in shares of Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after purchasing an additional 157 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Skechers U.S.A. by 1.2% in the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock worth $947,000 after purchasing an additional 172 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Finally, Lindenwold Advisors INC raised its stake in shares of Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after purchasing an additional 195 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SKX. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. TD Cowen lifted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Barclays decreased their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. 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 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

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.