Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Skechers U S A, Inc. shares valued at $29,488,938 were sold by GREENBERG MICHAEL on Aug 27 ’24. At $69.88 per share, GREENBERG MICHAEL sold 422,000 shares. The insider’s holdings dropped to 170,160 shares worth approximately $10.49 million following the completion of this transaction.
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Also, THE MICHAEL GREENBERG TRUST purchased 422,000 shares, netting a total of over 29,482,985 in proceeds.
Before that, Garcia Zulema had sold 1,100 shares from its account. In a trade valued at $80,080, the Director traded Skechers U S A, Inc. shares for $72.80 each. Upon closing the transaction, the insider’s holdings decreased to 1,100 shares, worth approximately $0.8 million.
As published in a research note from Morgan Stanley on July 23, 2024, Skechers U S A, Inc. [SKX] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $80 from $60. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early June. As of April 01, 2024, Barclays has initiated its “an Overweight” rating for SKX. Earlier on March 08, 2024, BofA Securities initiated its rating. Their recommendation was “a Neutral” for SKX stock.
Analyzing SKX Stock Performance
During the last five days, there has been a drop of approximately -0.60%. Over the course of the year, Skechers U S A, Inc. shares have dropped approximately -1.14%. 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 $66.03, while a 200-day SMA reached $64.45. Nevertheless, trading volume fell to 3.25 million shares from 2.49 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 61.00, which, if violated, would cause prices to drop to 60.37. In the upper region, resistance lies at 62.46. The next price resistance is at 63.30. RSI (Relative Strength Index) is 38.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.13, which suggests the price will decrease in the coming days. Percent R is at 90.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
