Insider Selling: Skechers U.S.A., Inc. (SKX) President Sells 150,000 Shares of Stock
Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg sold 150,000 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $31.86, for a total transaction of $4,779,000.00. Following the completion of the sale, the president now owns 251,679 shares of the company’s stock, valued at $8,018,492.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a return on equity of 13.70% and a net margin of 6.38%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $0.42 EPS. The firm’s revenue was up 16.2% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Seven Eight Capital LP purchased a new stake in shares of Skechers U.S.A. during the second quarter valued at $105,000. Aviance Capital Management LLC acquired a new position in Skechers U.S.A. during the second quarter valued at $109,000. Exane Derivatives acquired a new position in Skechers U.S.A. during the second quarter valued at $118,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Skechers U.S.A. by 12.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after purchasing an additional 503 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Skechers U.S.A. by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after purchasing an additional 335 shares during the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.
A number of analysts recently commented on SKX shares. Vetr upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $32.12 target price for the company in a research note on Monday, July 10th. Buckingham Research set a $34.00 target price on shares of Skechers U.S.A. and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Citigroup Inc. lifted their target price on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. B. Riley restated a “buy” rating and set a $37.00 price objective on shares of Skechers U.S.A. in a research note on Friday, July 21st. Finally, Cowen and Company set a $35.00 price objective on shares of Skechers U.S.A. and gave the company a “buy” rating in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $34.39.
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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