Investors Purchase High Volume of Call Options on Skechers U.S.A. (NYSE:SKX)

Skechers U.S.A., Inc. (NYSE:SKX) was the target of some unusual options trading activity on Wednesday. Stock investors bought 6,084 call options on the company. This is an increase of approximately 132% compared to the average volume of 2,621 call options.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SKX. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Evercore ISI raised their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. UBS Group reduced their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Barclays lowered their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Stock Up 2.7 %

NYSE SKX traded up $1.53 during trading on Wednesday, reaching $59.29. 1,139,002 shares of the company’s stock were exchanged, compared to its average volume of 1,959,774. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The company’s fifty day simple moving average is $68.53 and its 200-day simple moving average is $66.52. The firm has a market capitalization of $8.95 billion, a PE ratio of 14.28, a P/E/G ratio of 1.11 and a beta of 1.19.

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

Insider Activity

In related news, CEO Robert Greenberg sold 40,924 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,486,542.24. Following the completion of the sale, the chief executive officer now directly owns 51,342 shares of the company’s stock, valued at $3,119,539.92. The trade was a 44.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares of the company’s stock, valued at approximately $849,450. The trade was a 42.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,738 shares of company stock valued at $14,700,809. Company insiders own 24.75% of the company’s stock.

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

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. in the fourth quarter worth $32,000. UMB Bank n.a. boosted its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares in the last quarter. Finally, IFP Advisors Inc increased its position in Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after buying an additional 317 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.