Skechers U S A, Inc’s recent filing unveils that its President GREENBERG MICHAEL unloaded Company’s shares for reported $29.49 million on Aug 27 ’24. In the deal valued at $69.88 per share,422,000 shares were sold. As a result of this transaction, GREENBERG MICHAEL now holds 170,160 shares worth roughly $10.8 million.
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Then, THE MICHAEL GREENBERG TRUST bought 422,000 shares, generating $29,482,985 in total proceeds.
Before that, Garcia Zulema sold 1,100 shares. Skechers U S A, Inc shares valued at $80,080 were divested by the Director at a price of $72.80 per share. As a result of the transaction, Garcia Zulema now holds 12,900 shares, worth roughly $0.82 million.
Needham initiated its Skechers U S A, Inc [SKX] rating to a Hold in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in late July from “an Equal-weight” to “an Overweight”. BofA Securities also remained covering SKX and has increased its forecast on June 07, 2024 with a “Buy” recommendation from previously “Neutral” rating. Barclays started covering the stock on April 01, 2024. It rated SKX as “an Overweight”.
Price Performance Review of SKX
On Monday, Skechers U S A, Inc [NYSE:SKX] saw its stock jump 2.90% to $63.48. Over the last five days, the stock has gained 4.46%. Skechers U S A, Inc shares have risen nearly 1.83% since the year began. Nevertheless, the stocks have risen 13.34% over the past one year. While a 52-week high of $75.09 was reached on 06/12/24, a 52-week low of $54.95 was recorded on 04/16/24. SMA at 50 days reached $63.52, while 200 days put it at $64.43.
Levels Of Support And Resistance For SKX Stock
The 24-hour chart illustrates a support level at 62.88, which if violated will result in even more drops to 62.27. On the upside, there is a resistance level at 64.00. A further resistance level may holdings at 64.51. The Relative Strength Index (RSI) on the 14-day chart is 55.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.62, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 13.19%. Stochastics %K at 56.60% 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 2024-10-31, growing by 1.37 million shares to a total of 6.44 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 5.07 million shares. There was a rise of 21.28%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on March 08, 2024 when BofA Securities began covering the stock and recommended ‘”a Neutral”‘ rating along with a $67 price target.
