Skechers U S A, Inc.’s recently made public that its Chief Executive Officer GREENBERG ROBERT unloaded Company’s shares for reported $1.85 million on Mar 15 ’24. In the deal valued at $61.11 per share,30,339 shares were sold. As a result of this transaction, GREENBERG ROBERT now holds 132,783 shares worth roughly $8.08 million.
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Then, GREENBERG MICHAEL sold 25,282 shares, generating $1,544,983 in total proceeds. Upon selling the shares at $61.11, the President now owns 123,441 shares.
Before that, WEINBERG DAVID sold 20,226 shares. Skechers U S A, Inc. shares valued at $1,236,011 were divested by the Chief Operating Officer at a price of $61.11 per share. As a result of the transaction, WEINBERG DAVID now holds 99,655 shares, worth roughly $6.06 million.
BofA Securities initiated its Skechers U S A, Inc. [SKX] rating to a Neutral in a research note published on March 08, 2024; the price target was $67. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who began to cover the stock in mid February with a ‘”an Outperform”‘ rating. Monness Crespi & Hardt also remained covering SKX and reiterated its “Buy” recommendation on January 18, 2024. Piper Sandler revised its rating on September 18, 2023. It rated SKX as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of SKX
On Friday, Skechers U S A, Inc. [NYSE:SKX] saw its stock fall -1.15% to $60.83. Over the last five days, the stock has lost -0.13%. Skechers U S A, Inc. shares have fallen nearly -2.42% since the year began. Nevertheless, the stocks have risen 37.19% over the past one year. While a 52-week high of $65.17 was reached on 01/22/24, a 52-week low of $43.67 was recorded on 02/05/24. SMA at 50 days reached $60.98, while 200 days put it at $54.89. A total of 1.19 million shares were traded, compared to the trading of 0.84 million shares in the previous session.
Levels Of Support And Resistance For SKX Stock
The 24-hour chart illustrates a support level at 60.29, which if violated will result in even more drops to 59.75. On the upside, there is a resistance level at 61.33. A further resistance level may holdings at 61.83. The Relative Strength Index (RSI) on the 14-day chart is 50.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.09%. Stochastics %K at 54.63% indicates the stock is a holding.
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 Feb 29, 2024, growing by 0.15 million shares to a total of 2.01 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 1.86 million shares. There was a rise of 7.46%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.81% of the overall stock float, the days-to-cover ratio (short ratio) rose to 0.96.
The most recent change occurred on July 28, 2023 when UBS resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $68.
