Traders Buy Large Volume of Skechers U.S.A. Call Options (NYSE:SKX)
Skechers U.S.A., Inc. (NYSE:SKX) was the target of some unusual options trading on Friday. Traders purchased 5,648 call options on the stock. This is an increase of 194% compared to the typical volume of 1,924 call options.
Shares of Skechers U.S.A. (NYSE:SKX) opened at 28.50 on Monday. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 19.76 and a beta of 0.18. The firm’s 50-day moving average price is $28.04 and its 200-day moving average price is $26.15. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $30.00.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.06. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The company’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. Equities research analysts expect that Skechers U.S.A. will post $1.56 EPS for the current year.
SKX has been the subject of several analyst reports. Citigroup Inc. lowered their price objective on Skechers U.S.A. from $30.00 to $25.00 and set a “positive” rating for the company in a research note on Wednesday, March 29th. UFS reaffirmed a “sell” rating and issued a $25.00 price objective on shares of Skechers U.S.A. in a research note on Wednesday, March 29th. Susquehanna Bancshares Inc reaffirmed a “negative” rating and issued a $25.00 price objective (down from $30.00) on shares of Skechers U.S.A. in a research note on Wednesday, March 29th. Vetr lowered Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $26.92 price objective for the company. in a research note on Thursday, April 6th. Finally, Zacks Investment Research lowered Skechers U.S.A. from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Skechers U.S.A. presently has a consensus rating of “Hold” and a consensus price target of $31.09.
In other news, COO David Weinberg sold 23,502 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $25.08, for a total value of $589,430.16. Following the completion of the sale, the chief operating officer now directly owns 193,502 shares of the company’s stock, valued at approximately $4,853,030.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $28.38, for a total value of $42,570.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $567,600. The disclosure for this sale can be found here. 38.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKX. Tower Research Capital LLC TRC boosted its position in Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock worth $106,000 after buying an additional 3,120 shares during the period. US Bancorp DE boosted its position in Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock worth $107,000 after buying an additional 1,897 shares during the period. Exane Derivatives purchased a new position in Skechers U.S.A. during the second quarter worth approximately $118,000. Neuburgh Advisers LLC boosted its position in Skechers U.S.A. by 3.8% in the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock worth $132,000 after buying an additional 176 shares during the period. Finally, NINE MASTS CAPITAL Ltd purchased a new position in Skechers U.S.A. during the first quarter worth approximately $137,000. Institutional investors own 64.90% of the company’s stock.
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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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