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

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) was the target of some unusual options trading on Monday. Traders acquired 20,043 call options on the stock. This is an increase of 586% compared to the average volume of 2,922 call options.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock traded up $0.04 during trading hours on Friday, reaching $61.50. 6,087,343 shares of the stock traded hands, compared to its average volume of 2,909,716. Skechers U.S.A. has a one year low of $44.50 and a one year high of $78.85. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.11 and a beta of 1.06. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $53.40 and a 200 day moving average price of $62.06.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. On average, equities research analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SKX shares. Evercore ISI lowered their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. StockNews.com cut shares of Skechers U.S.A. from a "hold" rating to a "sell" rating in a research note on Tuesday. Stifel Nicolaus reduced their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. UBS Group reaffirmed a "neutral" rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $70.00.

Insider Buying and Selling at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction 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 approximately $5,063,009.28. The trade was a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,245 shares of company stock valued at $13,452,902. 24.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skechers U.S.A.

Several institutional investors and hedge funds have recently bought and sold shares of SKX. Vanguard Group Inc. raised its stake in shares of Skechers U.S.A. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after buying an additional 82,143 shares during the period. Victory Capital Management Inc. raised its stake in Skechers U.S.A. by 15,774.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock worth $224,272,000 after acquiring an additional 3,924,962 shares during the period. Anomaly Capital Management LP boosted its position in shares of Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after purchasing an additional 1,011,815 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Skechers U.S.A. by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock worth $140,984,000 after purchasing an additional 174,697 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Skechers U.S.A. by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after purchasing an additional 78,071 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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.