Skechers USA Inc (NYSE:SKX) President Michael Greenberg sold 22,689 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $31.17, for a total transaction of $707,216.13. Following the sale, the president now owns 534,269 shares of the company’s stock, valued at approximately $16,653,164.73. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Michael Greenberg also recently made the following trade(s):
- On Thursday, March 7th, Michael Greenberg sold 71,178 shares of Skechers USA stock. The stock was sold at an average price of $32.69, for a total transaction of $2,326,808.82.
- On Thursday, February 28th, Michael Greenberg sold 90,000 shares of Skechers USA stock. The stock was sold at an average price of $33.76, for a total transaction of $3,038,400.00.
- On Monday, March 4th, Michael Greenberg sold 220,336 shares of Skechers USA stock. The stock was sold at an average price of $34.07, for a total transaction of $7,506,847.52.
Shares of Skechers USA stock opened at $30.52 on Tuesday. The firm has a market capitalization of $4.88 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.57. Skechers USA Inc has a 12 month low of $21.45 and a 12 month high of $35.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.89 and a current ratio of 2.91.
Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, April 18th. The textile maker reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. Skechers USA had a net margin of 6.26% and a return on equity of 13.69%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. As a group, equities research analysts expect that Skechers USA Inc will post 2.02 EPS for the current fiscal year.
Several brokerages have recently weighed in on SKX. Zacks Investment Research downgraded shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Susquehanna Bancshares upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $32.00 to $37.00 in a research report on Wednesday, March 27th. B. Riley restated a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. Monness Crespi & Hardt restated a “buy” rating and set a $35.00 price objective (up previously from $32.00) on shares of Skechers USA in a research report on Friday, February 8th. Finally, Standpoint Research downgraded shares of Skechers USA from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.33.
Several institutional investors have recently made changes to their positions in SKX. Massachusetts Financial Services Co. MA acquired a new position in shares of Skechers USA in the 4th quarter valued at $56,133,000. Norges Bank acquired a new position in Skechers USA in the 4th quarter valued at $29,796,000. Oregon Public Employees Retirement Fund increased its stake in Skechers USA by 2,192.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock valued at $54,000 after buying an additional 1,179,958 shares during the period. Millennium Management LLC increased its stake in Skechers USA by 244.7% in the 4th quarter. Millennium Management LLC now owns 1,225,870 shares of the textile maker’s stock valued at $28,060,000 after buying an additional 870,212 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Skechers USA by 8.3% in the 4th quarter. Bank of New York Mellon Corp now owns 7,152,667 shares of the textile maker’s stock valued at $163,725,000 after buying an additional 548,322 shares during the period. 76.91% of the stock is currently owned by institutional investors and hedge funds.
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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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