Investors Purchase High Volume of Skechers USA Call Options (SKX)

Skechers USA Inc (NYSE:SKX) was the target of some unusual options trading on Thursday. Stock traders purchased 19,331 call options on the stock. This is an increase of 1,669% compared to the average volume of 1,093 call options.

Skechers USA (NYSE:SKX) opened at $41.06 on Friday. The firm has a market capitalization of $7,000.00, a price-to-earnings ratio of 35.70, a PEG ratio of 1.24 and a beta of 0.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46. Skechers USA has a twelve month low of $22.64 and a twelve month high of $42.73.

Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The firm had revenue of $970.59 million for the quarter, compared to analysts’ expectations of $881.39 million. Skechers USA had a return on equity of 14.73% and a net margin of 4.30%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. sell-side analysts predict that Skechers USA will post 2.19 earnings per share for the current fiscal year.

Skechers USA declared that its board has authorized a stock repurchase plan on Thursday, February 8th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the textile maker to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Morton D. Erlich sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $33.66, for a total value of $134,640.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Greenberg sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $35.16, for a total value of $2,637,000.00. The disclosure for this sale can be found here. Insiders sold a total of 580,750 shares of company stock worth $21,665,988 over the last ninety days. 21.73% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of SKX. Alliancebernstein L.P. increased its stake in shares of Skechers USA by 3.6% in the 2nd quarter. Alliancebernstein L.P. now owns 82,103 shares of the textile maker’s stock worth $2,422,000 after purchasing an additional 2,820 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Skechers USA 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 in the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Skechers USA by 6.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 27,020 shares of the textile maker’s stock worth $797,000 after purchasing an additional 1,670 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Skechers USA by 17.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 102,030 shares of the textile maker’s stock worth $3,010,000 after purchasing an additional 15,284 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Skechers USA by 0.4% in the 2nd quarter. Northern Trust Corp now owns 1,116,692 shares of the textile maker’s stock worth $32,943,000 after purchasing an additional 4,973 shares in the last quarter. Hedge funds and other institutional investors own 69.68% of the company’s stock.

Several research firms recently issued reports on SKX. Vetr raised Skechers USA from a “sell” rating to a “hold” rating and set a $39.03 price objective on the stock in a research report on Monday. Citigroup upped their price objective on Skechers USA from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday. Monness Crespi & Hardt upped their price objective on Skechers USA from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Friday. B. Riley set a $50.00 price objective on Skechers USA and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Zacks Investment Research cut Skechers USA from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.00.

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Skechers USA 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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