Skechers U.S.A. Sees Unusually High Options Volume (NYSE:SKX)

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) was the recipient of unusually large options trading on Monday. Stock investors acquired 20,043 call options on the stock. This is an increase of 586% compared to the typical volume of 2,922 call options.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SKX shares. TD Cowen upped their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Barclays reduced their target price on shares of Skechers U.S.A. from $77.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Evercore ISI cut their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Bank of America decreased their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Raymond James cut their price target on 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. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.62.

Insider Buying and Selling

In other news, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the transaction, the chief operating officer now owns 54,499 shares of the company's stock, valued at $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock valued at $13,452,902 over the last three months. 24.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth $12,852,000. Schroder Investment Management Group boosted its position in Skechers U.S.A. by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after purchasing an additional 18,024 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Skechers U.S.A. by 15.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock worth $8,069,000 after purchasing an additional 15,874 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Skechers U.S.A. during the 4th quarter worth about $2,752,000. Finally, Delphi Management Inc. MA acquired a new stake in shares of Skechers U.S.A. during the 4th quarter valued at about $1,517,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

Shares of NYSE SKX traded up $12.22 during mid-day trading on Monday, reaching $61.59. 43,506,189 shares of the company traded hands, compared to its average volume of 3,422,677. Skechers U.S.A. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The firm has a market cap of $9.20 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The stock has a fifty day simple moving average of $53.28 and a 200-day simple moving average of $62.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion for 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 business's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. Equities research analysts anticipate that Skechers U.S.A. will post 4.47 EPS for the current fiscal year.

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.

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