Insider Selling: Skechers U.S.A., Inc. (SKX) Director Sells 1,500 Shares of Stock
Skechers U.S.A., Inc. (NYSE:SKX) Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $28.38, for a total transaction of $42,570.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $567,600. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Richard Rappaport also recently made the following trade(s):
- On Wednesday, March 29th, Richard Rappaport sold 1,500 shares of Skechers U.S.A. stock. The stock was sold at an average price of $27.90, for a total transaction of $41,850.00.
Skechers U.S.A., Inc. (NYSE:SKX) traded up 3.41% during mid-day trading on Friday, reaching $28.85. 5,299,508 shares of the company were exchanged. The stock has a market capitalization of $4.57 billion, a P/E ratio of 18.71 and a beta of 0.31. Skechers U.S.A., Inc. has a 12 month low of $18.81 and a 12 month high of $32.71. The company’s 50 day moving average price is $25.37 and its 200-day moving average price is $25.68.
Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, April 20th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. Skechers U.S.A. had a net margin of 6.56% and a return on equity of 14.20%. Skechers U.S.A.’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, equities analysts expect that Skechers U.S.A., Inc. will post $1.78 earnings per share for the current fiscal year.
Several research analysts have issued reports on SKX shares. B. Riley reissued a “buy” rating and set a $32.00 price objective on shares of Skechers U.S.A. in a research report on Wednesday, April 26th. Cowen and Company reissued a “buy” rating and set a $35.00 price objective on shares of Skechers U.S.A. in a research report on Friday, April 21st. Vetr raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 price objective on the stock in a research report on Wednesday, April 12th. Citigroup Inc. raised shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $25.52 to $30.00 in a research report on Thursday, June 1st. Finally, Morgan Stanley raised their price objective on shares of Skechers U.S.A. from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $29.63.
Institutional investors have recently made changes to their positions in the stock. Castleark Management LLC bought a new position in shares of Skechers U.S.A. during the fourth quarter worth about $7,876,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Skechers U.S.A. by 35.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,791 shares of the textile maker’s stock worth $708,000 after buying an additional 7,539 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Skechers U.S.A. by 7.1% in the fourth quarter. AQR Capital Management LLC now owns 1,950,931 shares of the textile maker’s stock worth $47,954,000 after buying an additional 130,163 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Skechers U.S.A. during the fourth quarter worth about $14,300,000. Finally, Tyers Asset Management LLC bought a new position in shares of Skechers U.S.A. during the fourth quarter worth about $145,000. Hedge funds and other institutional investors own 65.59% of the company’s stock.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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