Skechers USA Inc (SKX) Director Morton D. Erlich Sells 4,000 Shares

Skechers USA Inc (NYSE:SKX) Director Morton D. Erlich sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 22nd. The stock was sold at an average price of $33.66, for a total value of $134,640.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $403,920. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Skechers USA Inc (NYSE SKX) traded down $0.64 during trading hours on Wednesday, reaching $37.91. The company’s stock had a trading volume of 1,359,600 shares, compared to its average volume of 1,592,210. Skechers USA Inc has a 52 week low of $22.31 and a 52 week high of $39.71. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6,230.00, a price-to-earnings ratio of 23.40, a P/E/G ratio of 1.26 and a beta of 0.14.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.16. Skechers USA had a return on equity of 13.70% and a net margin of 6.38%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business earned $0.42 EPS. Skechers USA’s quarterly revenue was up 16.2% on a year-over-year basis. analysts anticipate that Skechers USA Inc will post 1.71 earnings per share for the current year.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Skechers USA from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a report on Monday, October 23rd. Vetr cut Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 price target for the company. in a report on Monday, December 11th. Citigroup upped their price target on Skechers USA from $34.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. Cowen set a $42.00 price target on Skechers USA and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Wedbush upgraded Skechers USA from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $24.03 to $35.00 in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $38.55.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Skechers USA by 5.0% in the second quarter. Vanguard Group Inc. now owns 10,543,894 shares of the textile maker’s stock valued at $311,045,000 after purchasing an additional 500,360 shares in the last quarter. State Street Corp grew its position in shares of Skechers USA by 47.2% in the second quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock valued at $148,423,000 after purchasing an additional 1,613,977 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Skechers USA by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,844,216 shares of the textile maker’s stock valued at $54,403,000 after purchasing an additional 162,641 shares in the last quarter. Boston Partners grew its position in shares of Skechers USA by 2.6% in the third quarter. Boston Partners now owns 1,604,706 shares of the textile maker’s stock valued at $40,262,000 after purchasing an additional 41,403 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Skechers USA by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 1,548,759 shares of the textile maker’s stock valued at $38,859,000 after purchasing an additional 19,722 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.

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About Skechers USA

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.

Insider Buying and Selling by Quarter for Skechers USA (NYSE:SKX)

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