Skechers U.S.A., Inc. (NYSE:SKX) EVP Mark A. Nason Sells 6,432 Shares of Stock

Skechers U.S.A., Inc. (NYSE:SKXGet Free Report) EVP Mark A. Nason sold 6,432 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $58.83, for a total transaction of $378,394.56. Following the completion of the transaction, the executive vice president now directly owns 34,023 shares of the company’s stock, valued at $2,001,573.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $58.91 on Friday. The firm’s fifty day moving average price is $61.70 and its 200-day moving average price is $54.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The stock has a market cap of $9.07 billion, a P/E ratio of 16.88 and a beta of 1.36. Skechers U.S.A., Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $65.17.

Skechers U.S.A. (NYSE:SKXGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.04. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. On average, equities research analysts expect that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current fiscal year.

Institutional Trading of Skechers U.S.A.

Several hedge funds have recently added to or reduced their stakes in SKX. Goldman Sachs Group Inc. lifted its stake in Skechers U.S.A. by 705.1% in the second quarter. Goldman Sachs Group Inc. now owns 2,135,092 shares of the textile maker’s stock worth $112,434,000 after purchasing an additional 1,869,889 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Skechers U.S.A. by 6,521.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after acquiring an additional 1,434,601 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Skechers U.S.A. by 757.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,543,936 shares of the textile maker’s stock valued at $73,368,000 after acquiring an additional 1,363,908 shares during the period. Norges Bank purchased a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $75,194,000. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Skechers U.S.A. by 1,102.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 905,292 shares of the textile maker’s stock valued at $37,977,000 after buying an additional 829,982 shares during the period. 80.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SKX. Wedbush cut their price objective on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, February 2nd. Raymond James lowered their target price on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Stifel Nicolaus lowered their target price on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Finally, Monness Crespi & Hardt increased their target price on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $64.56.

Read Our Latest Report on SKX

About Skechers U.S.A.

(Get Free Report)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.

Featured Articles

Insider Buying and Selling by Quarter for Skechers U.S.A. (NYSE:SKX)

Receive News & Ratings for Skechers U.S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. and related companies with MarketBeat.com's FREE daily email newsletter.