Skechers U.S.A., Inc. (NYSE:SKX) CFO John M. Vandemore Sells 5,112 Shares

Skechers U.S.A., Inc. (NYSE:SKX) CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Skechers U.S.A. Stock Down 4.4 %

NYSE:SKX traded down $2.66 during mid-day trading on Monday, hitting $58.33. The company had a trading volume of 2,574,385 shares, compared to its average volume of 1,962,127. The business has a fifty day simple moving average of $68.73 and a 200-day simple moving average of $66.57. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.11 and a beta of 1.19. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results 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%. Equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SKX shares. UBS Group lowered their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays cut their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Raymond James dropped their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Stifel Nicolaus decreased their price target 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SKX. Raymond James & Associates increased 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 worth $3,518,000 after buying an additional 34,612 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Skechers U.S.A. during the third quarter valued at about $289,000. Harbor Capital Advisors Inc. increased its position in shares of Skechers U.S.A. by 241.4% during the third quarter. Harbor Capital Advisors Inc. now owns 89,561 shares of the textile maker’s stock worth $5,993,000 after acquiring an additional 63,328 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in shares of Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after acquiring an additional 394,618 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its holdings in Skechers U.S.A. by 42.3% in the third quarter. Intact Investment Management Inc. now owns 14,420 shares of the textile maker’s stock valued at $965,000 after purchasing an additional 4,290 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

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.