The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Skechers U S A, Inc. shares valued at $1,854,016 were sold by GREENBERG ROBERT on Mar 15 ’24. At $61.11 per share, GREENBERG ROBERT sold 30,339 shares. The insider’s holdings dropped to 132,783 shares worth approximately $7.55 million following the completion of this transaction.
Also, GREENBERG MICHAEL sold 25,282 shares, netting a total of over 1,544,983 in proceeds. Following the sale of shares at $61.11 each, the insider now holds 123,441 shares.
Before that, WEINBERG DAVID had sold 20,226 shares from its account. In a trade valued at $1,236,011, the Chief Operating Officer traded Skechers U S A, Inc. shares for $61.11 each. Upon closing the transaction, the insider’s holdings decreased to 20,226 shares, worth approximately $5.67 million.
As published in their initiating research note from Barclays on April 01, 2024, Skechers U S A, Inc. [SKX] has been an Overweight and the price target has been revised to $71. Analysts at BofA Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in early March. As of February 15, 2024, Evercore ISI has initiated its “an Outperform” rating for SKX. Earlier on January 18, 2024, Monness Crespi & Hardt resumed its rating. Their recommendation was “a Buy” for SKX stock.
Analyzing SKX Stock Performance
During the last five days, there has been a drop of approximately -0.46%. Over the course of the year, Skechers U S A, Inc. shares have dropped approximately -8.79%. Shares of the company reached a 52-week high of $65.17 on 01/22/24 and a 52-week low of $55.67 on 04/16/24. A 50-day SMA is recorded $59.60, while a 200-day SMA reached $55.47. Nevertheless, trading volume fell to 1.2 million shares from 2.45 million shares the previous day.
Support And Resistance Levels for Skechers U S A, Inc. (SKX)
According to the 24-hour chart, there is a support level at 56.35, which, if violated, would cause prices to drop to 55.83. In the upper region, resistance lies at 57.42. The next price resistance is at 57.97. RSI (Relative Strength Index) is 38.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.86, which suggests the price will decrease in the coming days. Percent R is at 80.74%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
