Skechers U.S.A., Inc. (NYSE:SKX) EVP Mark A. Nason Sells 12,046 Shares

Skechers U.S.A., Inc. (NYSE:SKX) EVP Mark A. Nason sold 12,046 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total transaction of $795,999.68. Following the sale, the executive vice president now directly owns 25,675 shares in the company, valued at approximately $1,696,604. This trade represents a 31.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $65.70 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.92 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.13 and a beta of 1.19. The firm’s fifty day simple moving average is $69.69 and its 200 day simple moving average is $66.53. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. As a group, research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Morgan Stanley increased their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. UBS Group lowered their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and an average price target of $81.25.

Hedge Funds Weigh In On Skechers U.S.A.

Several large investors have recently modified their holdings of SKX. Blue Trust Inc. raised its position in shares of Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares during the last quarter. Raymond James & Associates lifted its stake in Skechers U.S.A. by 192.7% during the 3rd quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock valued at $3,518,000 after acquiring an additional 34,612 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Skechers U.S.A. by 22.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,288 shares of the textile maker’s stock valued at $3,098,000 after acquiring an additional 8,564 shares during the period. Private Advisor Group LLC bought a new position in Skechers U.S.A. during the 3rd quarter valued at about $289,000. Finally, Lecap Asset Management Ltd. bought a new position in Skechers U.S.A. during the 3rd quarter valued at about $1,231,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.