Traders Purchase Large Volume of Skechers U.S.A. Call Options (NYSE:SKX)

Skechers U.S.A., Inc. (NYSE:SKX) was the target of some unusual options trading activity on Wednesday. Traders acquired 6,084 call options on the stock. This represents an increase of approximately 132% compared to the average volume of 2,621 call options.

Analyst Ratings Changes

SKX has been the subject of a number of recent analyst reports. Raymond James lowered 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 report on Friday, February 7th. UBS Group cut their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Evercore ISI upped their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Barclays decreased their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Trading Up 2.7 %

Skechers U.S.A. stock opened at $59.35 on Thursday. Skechers U.S.A. has a 1 year low of $55.67 and a 1 year high of $78.85. The firm’s 50-day moving average is $68.36 and its 200-day moving average is $66.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The company has a market cap of $8.96 billion, a P/E ratio of 14.30, a PEG ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, equities analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,738 shares of company stock worth $14,700,809. 24.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Skechers U.S.A.

Hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC increased its position in Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after buying an additional 13,836 shares during the period. Victory Capital Management Inc. grew its position in shares of Skechers U.S.A. by 22.3% during the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after acquiring an additional 25,289 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after acquiring an additional 67,812 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after purchasing an additional 17,429 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after purchasing an additional 15,874 shares during the period. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Company Profile

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.