Insider Selling: Skechers USA Inc (NYSE:SKX) EVP Sells 13,191 Shares of Stock

Skechers USA Inc (NYSE:SKX) EVP Mark A. Nason sold 13,191 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.00, for a total transaction of $422,112.00. Following the transaction, the executive vice president now owns 86,943 shares of the company’s stock, valued at approximately $2,782,176. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NYSE:SKX traded down $0.07 on Friday, reaching $27.93. 2,004,602 shares of the company were exchanged, compared to its average volume of 2,376,841. The company has a quick ratio of 2.00, a current ratio of 2.91 and a debt-to-equity ratio of 0.43. Skechers USA Inc has a 1-year low of $21.45 and a 1-year high of $35.66. The stock has a market cap of $4.44 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.99 and a beta of 0.57.

Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 18th. The textile maker reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.30 billion. Skechers USA had a return on equity of 13.56% and a net margin of 6.26%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Equities analysts anticipate that Skechers USA Inc will post 2.02 earnings per share for the current year.

Several research firms have commented on SKX. B. Riley reiterated a “buy” rating on shares of Skechers USA in a report on Friday, April 26th. Susquehanna Bancshares upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating and upped their target price for the company from $32.00 to $37.00 in a report on Wednesday, March 27th. Standpoint Research cut shares of Skechers USA from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. TheStreet upgraded shares of Skechers USA from a “c+” rating to a “b” rating in a report on Thursday, February 14th. Finally, Cowen restated a “hold” rating and issued a $34.00 target price on shares of Skechers USA in a report on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Skechers USA presently has an average rating of “Hold” and a consensus target price of $32.33.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Accident Compensation Corp grew its stake in Skechers USA by 10.9% in the 1st quarter. Accident Compensation Corp now owns 71,230 shares of the textile maker’s stock valued at $2,394,000 after acquiring an additional 7,000 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in Skechers USA in the 1st quarter valued at about $4,433,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Skechers USA by 7.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,011 shares of the textile maker’s stock valued at $842,000 after acquiring an additional 1,784 shares during the last quarter. Man Group plc grew its stake in Skechers USA by 615.1% in the 1st quarter. Man Group plc now owns 441,399 shares of the textile maker’s stock valued at $14,835,000 after acquiring an additional 379,673 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in Skechers USA in the 1st quarter valued at about $1,215,000. 76.51% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was first reported by Rockland Register and is the property of of Rockland Register. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://rocklandregister.com/2019/05/31/skechers-usa-inc-skx-evp-sells-422112-00-in-stock.html.

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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Insider Buying and Selling by Quarter for Skechers USA (NYSE:SKX)

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