In today’s session Skechers USA Inc (SKX) recorded an unusually high (758) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the April, 2017 put, expecting serious SKX decrease. With 758 contracts traded and 3184 open interest for the Apr, 17 contract, it seems this is a quite bearish bet. The option with symbol: SKX170421P00023000 closed last at: $3.1 or 11.4% down. The stock increased 0.35% or $0.08 during the last trading session, hitting $23.13. About 2.26 million shares traded hands. Skechers USA Inc (NYSE:SKX) has declined 31.28% since March 1, 2016 and is downtrending. It has underperformed by 40.52% the S&P500.
Skechers USA Inc (NYSE:SKX) Ratings Coverage
Out of 13 analysts covering Skechers Usa Inc. (NYSE:SKX), 10 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 77% are positive. $185 is the highest target while $2.50 is the lowest. The $61.56 average target is 166.15% above today’s ($23.13) stock price. Skechers Usa Inc. has been the topic of 27 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Susquehanna given on Friday, January 22. Susquehanna upgraded the stock to “Positive” rating in Friday, September 30 report. The stock has “Neutral” rating given by Monness Crespi & Hardt on Friday, July 22. Buckingham Research downgraded Skechers USA Inc (NYSE:SKX) on Friday, October 23 to “Neutral” rating. B. Riley & Co maintained Skechers USA Inc (NYSE:SKX) rating on Friday, October 23. B. Riley & Co has “Buy” rating and $40 price target. The firm earned “Buy” rating on Thursday, July 30 by Monness Crespi & Hardt. Citigroup maintained the shares of SKX in a report on Tuesday, August 23 with “Buy” rating. The stock of Skechers USA Inc (NYSE:SKX) has “Buy” rating given on Friday, October 23 by Monness Crespi & Hardt. Macquarie Research initiated Skechers USA Inc (NYSE:SKX) on Thursday, April 7 with “Outperform” rating. BB&T Capital initiated it with “Buy” rating and $150 target price in Friday, October 16 report.
Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.03, from 1.14 in 2016Q1. The ratio fall, as 62 funds sold all Skechers USA Inc shares owned while 93 reduced positions. 60 funds bought stakes while 112 increased positions. They now own 102.59 million shares or 3.66% less from 106.49 million shares in 2016Q1.
Pinnacle Assocs has 35,700 shares for 0.02% of their US portfolio. Victory Mngmt Incorporated holds 0.05% of its portfolio in Skechers USA Inc (NYSE:SKX) for 404,596 shares. Da Davidson Company last reported 10,049 shares in the company. Moreover, Oz Management L P has 0.27% invested in Skechers USA Inc (NYSE:SKX) for 1.58 million shares. State Of Tennessee Treasury Department last reported 170,000 shares in the company. Ameritas Inv Prtn reported 57,814 shares or 0.11% of all its holdings. Moreover, Portolan Cap Management Ltd has 1.14% invested in Skechers USA Inc (NYSE:SKX) for 265,616 shares. Buckingham Cap Mgmt Incorporated, a New York-based fund reported 808,627 shares. Creative Planning, a Kansas-based fund reported 8,074 shares. Goldman Sachs Group has invested 0.02% of its portfolio in Skechers USA Inc (NYSE:SKX). Prudential Financial has 0.04% invested in the company for 862,012 shares. Verity Asset Mngmt has 30,694 shares for 0.9% of their US portfolio. Advisors Asset Mngmt accumulated 0% or 3,500 shares. Synovus Financial Corp has invested 0% of its portfolio in Skechers USA Inc (NYSE:SKX). Tcw Group, a California-based fund reported 101,462 shares.
Insider Transactions: Since April 26, 2016, the stock had 0 insider buys, and 11 insider sales for $19.49 million net activity. GREENBERG MICHAEL had sold 200,000 shares worth $6.77M on Thursday, April 28. Shares for $335,534 were sold by GREENBERG JEFFREY. PACCIONE PHILLIP had sold 5,000 shares worth $170,002. The insider WEINBERG DAVID sold 50,000 shares worth $1.70 million. $50,094 worth of Skechers USA Inc (NYSE:SKX) was sold by Walsh Thomas. $271,650 worth of shares were sold by NASON MARK A on Thursday, May 26. 300,000 shares were sold by GREENBERG ROBERT, worth $9.43M on Friday, May 13.
Skechers U.S.A., Inc. is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The company has a market cap of $3.68 billion. The Firm operates through three divisions: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales. It has a 13.37 P/E ratio. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and Internet retailers.
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