David Weinberg Sells 26,913 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKX) COO David Weinberg sold 26,913 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $1,635,233.88. Following the completion of the transaction, the chief operating officer now directly owns 44,637 shares of the company’s stock, valued at approximately $2,712,144.12. This represents a 37.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, February 12th, David Weinberg sold 36,000 shares of Skechers U.S.A. stock. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00.
• On Tuesday, December 31st, David Weinberg sold 8,219 shares of Skechers U.S.A. stock. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $57.74 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. The company’s 50 day simple moving average is $68.53 and its 200-day simple moving average is $66.52. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85.

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

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

Several institutional investors have recently bought and sold shares of SKX. Spire Wealth Management lifted its position in shares of Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after purchasing an additional 155 shares in the last quarter. Calamos Wealth Management LLC increased its stake in Skechers U.S.A. by 0.9% during the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after buying an additional 157 shares during the period. Cerity Partners LLC lifted its holdings in Skechers U.S.A. by 1.2% during the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock worth $947,000 after buying an additional 172 shares in the last quarter. NewEdge Advisors LLC boosted its position in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after buying an additional 190 shares during the period. Finally, Lindenwold Advisors INC grew 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 acquiring an additional 195 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on SKX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Raymond James dropped their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Piper Sandler started coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective on the stock. Evercore ISI boosted their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus cut their target price on 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. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

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.