Monitoring Skechers U.S.A. Inc. (SKX) after recent insider movements


Skechers U.S.A. Inc.’s filing revealed that its Director BLAIR KATHERINE J. unloaded Company’s shares for reported $0.18 million on May 08. In the deal valued at $52.70 per share,3,500 shares were sold. As a result of this transaction, BLAIR KATHERINE J. now holds 7,000 shares worth roughly $ 0.34 million.

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Then, SISKIND RICHARD sold 20,000 shares, generating $1,073,504 in total proceeds. Upon selling the shares at $53.68, the Director now owns 152,999 shares.

Before that, NASON MARK A sold 1,093 shares. Skechers U.S.A. Inc. shares valued at $49,314 were divested by the Executive Vice President at a price of $45.12 per share. As a result of the transaction, NASON MARK A now holds 18,903 shares, worth roughly $0.91 million.

UBS reiterated its Skechers U.S.A. Inc. [SKX] rating to a Buy in a research note published on Friday, July 28, 2023; the price target was $68. PT values the company’s stock at a premium of 28.84 to its Friday closing price.

Price Performance Review of SKX

On Friday, Skechers U.S.A. Inc. [NYSE:SKX] saw its stock fall -0.19% to $48.39. On the same session, the stock had its day’s lowest price of $47.90, but rose to a high of $48.97. Over the last five days, the stock has lost -4.95%. Skechers U.S.A. Inc. shares have risen nearly 15.35% since the year began. Nevertheless, the stocks have risen 24.11% over the past one year. While a 52-week high of $56.53 was reached on 07/31/23, a 52-week low of $31.28 was recorded on 01/03/23. SMA at 50 days reached $52.36, while 200 days put it at $47.75. A total of 1.59 million shares were traded, compared to the trading of 1.9 million shares in the previous session.

Levels Of Support And Resistance For SKX Stock

The 24-hour chart illustrates a support level at 47.87, which if violated will result in even more drops to 47.35. On the upside, there is a resistance level at 48.94. A further resistance level may holdings at 49.49. The Relative Strength Index (RSI) on the 14-day chart is 31.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.72, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.65%. Stochastics %K at 14.23% indicates the stock is a buying.

How much short interest is there in Skechers U.S.A. Inc.?

A steep rise in short interest was recorded in Skechers U.S.A. Inc. stocks on Aug 14, 2023, growing by 0.34 million shares to a total of 3.94 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.6 million shares. There was a rise of 8.63%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.50% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.89.

Skechers U.S.A. Inc. [SKX] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 19,821,326 shares, or roughly 14.76% of the outstanding SKX shares. In other words, the investor’s shares have fallen by -118,670 from its previous 13-F filing of 19939996.0. Additionally, The Vanguard Group, Inc. decreased -0.11% of its stake after which the total value it holdings stand at $689,871,466, while BlackRock Fund Advisors reduced -2.14% of its stake to hold $579.25 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -74,311 shares of Skechers U.S.A. Inc., while Massachusetts Financial Services sold -1,454,165 shares. At present, Pzena Investment Management LLC is holding 3,982,377 shares valued at $221.34 million. Dimensional Fund Advisors LP owned 3,284,989 shares of the company at the time of its most recent 13F filing, worth $182.58 million.

According to FactSet, Skechers U.S.A. Inc.’s share price will average $61.87 in the next year, based on opinions of analysts polled by the firm. This is up nearly 26.24 percent from its previous closing price of $48.48. Analysts expect Skechers U.S.A. Inc. stock to reach the higher price of $75.00, while the lowest price estimate is $48.00. However, 14 analysts have rated SKX stock as an Overweight in their predictions for 2023.


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