Robert Greenberg Sells 40,924 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKX) CEO Robert Greenberg sold 40,924 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,486,542.24. Following the sale, the chief executive officer now directly owns 51,342 shares of the company’s stock, valued at $3,119,539.92. This trade represents a 44.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Robert Greenberg also recently made the following trade(s):

• On Wednesday, February 12th, Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $59.35 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm has a fifty day moving average of $68.36 and a 200 day moving average of $66.47. The firm has a market cap of $8.96 billion, a PE ratio of 14.30, a PEG ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (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 fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen increased their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Raymond James dropped their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, UBS Group cut their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average price target of $81.25.

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

Hedge funds have recently made changes to their positions in the company. Cim LLC increased its position in shares of Skechers U.S.A. by 1.7% during the fourth quarter. Cim LLC now owns 19,271 shares of the textile maker’s stock worth $1,296,000 after purchasing an additional 316 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Skechers U.S.A. during the 4th quarter worth $1,110,000. Integrated Advisors Network LLC boosted its stake in Skechers U.S.A. by 335.4% during the 4th quarter. Integrated Advisors Network LLC now owns 14,900 shares of the textile maker’s stock worth $1,002,000 after purchasing an additional 11,478 shares during the last quarter. Peak Retirement Planning Inc. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $953,000. Finally, Formidable Asset Management LLC acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $769,000. Institutional investors and hedge funds 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.