Skechers USA Inc (NYSE:SKX) Director Jeffrey Greenberg sold 60,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $35.00, for a total value of $2,100,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Jeffrey Greenberg also recently made the following trade(s):
- On Thursday, August 1st, Jeffrey Greenberg sold 90,000 shares of Skechers USA stock. The shares were sold at an average price of $37.72, for a total value of $3,394,800.00.
- On Friday, July 19th, Jeffrey Greenberg sold 90,000 shares of Skechers USA stock. The shares were sold at an average price of $39.24, for a total value of $3,531,600.00.
Shares of NYSE:SKX traded up $0.71 during trading hours on Wednesday, reaching $36.48. The stock had a trading volume of 1,651,686 shares, compared to its average volume of 2,345,948. Skechers USA Inc has a 1 year low of $21.45 and a 1 year high of $40.50. The firm’s 50 day moving average is $33.58 and its 200-day moving average is $32.35. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 1.07 and a beta of 0.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.65 and a current ratio of 2.51.
Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, July 18th. The textile maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. Skechers USA had a net margin of 6.72% and a return on equity of 14.59%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. Analysts forecast that Skechers USA Inc will post 2.25 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan lifted its position in Skechers USA by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 24,680 shares of the textile maker’s stock worth $777,000 after purchasing an additional 270 shares during the period. Empirical Finance LLC increased its holdings in Skechers USA by 1.1% during the second quarter. Empirical Finance LLC now owns 53,757 shares of the textile maker’s stock valued at $1,693,000 after buying an additional 601 shares during the last quarter. Torch Wealth Management LLC increased its holdings in Skechers USA by 5.4% during the second quarter. Torch Wealth Management LLC now owns 13,675 shares of the textile maker’s stock valued at $431,000 after buying an additional 700 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Skechers USA by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 53,963 shares of the textile maker’s stock worth $1,699,000 after acquiring an additional 763 shares during the last quarter. Finally, Stone Ridge Asset Management LLC boosted its stake in shares of Skechers USA by 1.1% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 76,831 shares of the textile maker’s stock worth $2,419,000 after acquiring an additional 800 shares during the last quarter. 76.32% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on SKX shares. Susquehanna Bancshares boosted their price objective on Skechers USA from $37.00 to $42.00 and gave the stock a “positive” rating in a report on Friday, July 19th. Morgan Stanley upped their target price on Skechers USA from $29.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. UBS Group upped their price objective on shares of Skechers USA to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Wedbush upgraded Skechers USA from a “neutral” rating to an “outperform” rating and increased their target price for the company from $31.00 to $46.00 in a research report on Friday, July 19th. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $42.00 price target (up from $35.00) on shares of Skechers USA in a research report on Friday, July 19th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Skechers USA has an average rating of “Hold” and an average target price of $38.50.
About Skechers USA
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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