Shares of Skechers USA Inc. (NYSE:SKX) saw strong trading volume on Thursday . 4,432,784 shares changed hands during mid-day trading, an increase of 67% from the previous session’s volume of 2,659,776 shares.The stock last traded at $32.18 and had previously closed at $32.28.

A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Skechers USA from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Vetr upgraded shares of Skechers USA from a “sell” rating to a “strong-buy” rating and set a $49.62 price objective for the company in a research note on Tuesday, June 7th. OTR Global cut shares of Skechers USA to a “positive” rating in a research note on Thursday, April 7th. B. Riley restated a “buy” rating and issued a $42.00 price objective on shares of Skechers USA in a research note on Monday, April 25th. Finally, Macquarie initiated coverage on shares of Skechers USA in a research note on Thursday, April 7th. They issued an “outperform” rating and a $45.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.72.

The company has a market cap of $5.08 billion and a PE ratio of 18.28. The company has a 50 day moving average price of $30.33 and a 200 day moving average price of $30.27.

Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, July 21st. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.04. The firm had revenue of $877.80 million for the quarter, compared to the consensus estimate of $892.06 million. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that Skechers USA Inc. will post $2.07 earnings per share for the current year.

In other news, CEO Robert Greenberg sold 300,000 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $31.44, for a total value of $9,432,000.00. Following the completion of the sale, the chief executive officer now owns 277,693 shares of the company’s stock, valued at $8,730,667.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO David Weinberg sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $34.07, for a total transaction of $1,703,500.00. Following the completion of the sale, the chief operating officer now directly owns 265,000 shares of the company’s stock, valued at approximately $9,028,550. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently bought and sold shares of the company. Liberty Mutual Group Asset Management Inc. increased its position in Skechers USA by 354.0% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 82,546 shares of the company’s stock worth $2,494,000 after buying an additional 64,365 shares during the period. Pinnacle Associates Ltd. bought a new position in Skechers USA during the fourth quarter worth approximately $1,045,000. Quantitative Investment Management LLC increased its position in Skechers USA by 380.3% in the fourth quarter. Quantitative Investment Management LLC now owns 36,500 shares of the company’s stock worth $1,102,000 after buying an additional 28,900 shares during the period. Vanguard Group Inc. increased its position in Skechers USA by 211.4% in the fourth quarter. Vanguard Group Inc. now owns 10,454,998 shares of the company’s stock worth $315,845,000 after buying an additional 7,098,035 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Skechers USA by 132.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 38,925 shares of the company’s stock worth $1,175,000 after buying an additional 22,210 shares during the period.

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.

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