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Skechers U S A, Inc. [SKX] Shares Rise 0.43 % on Wednesday

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Skechers U S A, Inc. shares valued at $80,080 were sold by Garcia Zulema on Jun 07 ’24. At $72.80 per share, Garcia Zulema sold 1,100 shares. The insider’s holdings dropped to 12,900 shares worth approximately $0.87 million following the completion of this transaction.

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Also, PACCIONE PHILLIP sold 423 shares, netting a total of over 29,379 in proceeds. Following the sale of shares at $69.45 each, the insider now holds 35,000 shares.

Before that, BLAIR KATHERINE J. had sold 3,500 shares from its account. In a trade valued at $240,713, the Director traded Skechers U S A, Inc. shares for $68.78 each. Upon closing the transaction, the insider’s holdings decreased to 3,500 shares, worth approximately $0.8 million.

As published in a research note from BofA Securities on June 07, 2024, Skechers U S A, Inc. [SKX] has been rated up from a Neutral to a Buy and the price target has been revised to $87 from $71. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of March 08, 2024, BofA Securities has initiated its “Neutral” rating for SKX. Earlier on February 15, 2024, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for SKX stock.

Analyzing SKX Stock Performance

During the last five days, there has been a drop of approximately -6.06%. Over the course of the year, Skechers U S A, Inc. shares have jumped approximately 8.12%. Shares of the company reached a 52-week high of $75.09 on 06/12/24 and a 52-week low of $55.67 on 04/16/24. A 50-day SMA is recorded $68.99, while a 200-day SMA reached $59.84. Nevertheless, trading volume fell to 0.71 million shares from 1.74 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 66.96, which, if violated, would cause prices to drop to 66.61. In the upper region, resistance lies at 67.73. The next price resistance is at 68.15. RSI (Relative Strength Index) is 37.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.91, which suggests the price will decrease in the coming days. Percent R is at 91.44%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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