Skechers USA Inc (SKX) CEO Sells $18,830,000.00 in Stock

Skechers USA Inc (NYSE:SKX) CEO Robert Greenberg sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $37.66, for a total value of $18,830,000.00. Following the transaction, the chief executive officer now directly owns 267,713 shares of the company’s stock, valued at approximately $10,082,071.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Skechers USA Inc (NYSE SKX) opened at $38.32 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46. Skechers USA Inc has a 52 week low of $22.31 and a 52 week high of $38.41. The company has a market capitalization of $6,056.72, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.15.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. Skechers USA had a return on equity of 13.70% and a net margin of 6.38%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $0.42 EPS. The company’s revenue was up 16.2% compared to the same quarter last year. equities research analysts anticipate that Skechers USA Inc will post 1.7 earnings per share for the current year.

A number of research firms recently weighed in on SKX. Cowen set a $42.00 price objective on Skechers USA and gave the company a “buy” rating in a research report on Monday, December 18th. Argus raised Skechers USA from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Vetr lowered Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 price objective for the company. in a research report on Monday, December 11th. Susquehanna Bancshares reaffirmed a “buy” rating and set a $46.00 price objective on shares of Skechers USA in a research report on Monday, December 4th. Finally, Monness Crespi & Hardt raised their price objective on Skechers USA from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $36.80.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. boosted its stake in Skechers USA by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock valued at $540,000 after purchasing an additional 47 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of Skechers USA by 1.3% in the 2nd quarter. Utah Retirement Systems now owns 24,000 shares of the textile maker’s stock worth $708,000 after buying an additional 300 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Skechers USA by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after buying an additional 335 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Skechers USA by 12.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after buying an additional 503 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Skechers USA by 0.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 80,310 shares of the textile maker’s stock worth $2,367,000 after buying an additional 503 shares during the last quarter. Institutional investors and hedge funds own 70.08% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2017/12/24/skechers-usa-inc-skx-ceo-sells-18830000-00-in-stock.html.

Skechers USA Company Profile

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

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

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

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit