Skechers USA Inc Unusual Bearish Options Activity Means Higher Risks

 Skechers USA Inc Unusual Bearish Options Activity Means Higher Risks

In today’s session Skechers USA Inc (SKX) recorded an unusually high (1,010) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious SKX decrease. With 1,010 contracts traded and 22704 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: SKX170120P00020000 closed last at: $0.35 or 22.2% down. About 325,362 shares traded hands. Skechers USA Inc (NYSE:SKX) has declined 36.32% since April 27, 2016 and is downtrending. It has underperformed by 41.54% the S&P500.

Skechers USA Inc (NYSE:SKX) Ratings Coverage

Out of 14 analysts covering Skechers Usa Inc. (NYSE:SKX), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. $185 is the highest target while $2.50 is the lowest. The $58.99 average target is 168.99% above today’s ($21.93) stock price. Skechers Usa Inc. has been the topic of 30 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Friday, October 21 by Citigroup. The rating was initiated by Standpoint Research on Monday, October 3 with “Buy”. The rating was upgraded by Susquehanna to “Positive” on Friday, September 30. Susquehanna initiated it with “Neutral” rating and $27 target price in Friday, August 12 report. The stock of Skechers USA Inc (NYSE:SKX) has “Buy” rating given on Sunday, September 6 by Sterne Agee CRT. Morgan Stanley downgraded Skechers USA Inc (NYSE:SKX) on Wednesday, September 21 to “Equal-Weight” rating. The rating was downgraded by Susquehanna on Friday, January 22 to “Neutral”. As per Friday, July 22, the company rating was downgraded by Monness Crespi & Hardt. The company was downgraded on Thursday, November 3 by B. Riley & Co. As per Friday, October 23, the company rating was downgraded by Buckingham Research.

According to Zacks Investment Research, “Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged and lifestyle footwear for men, women and children. The company sells its products to department stores such as Nordstrom, Macy’s, Dillards, Robinson’s-May and JC Penney and specialty retailers such as Genesco’s Journeys and Jarman chains, The Venator Group’s Foot Locker and Lady Foot Locker chains, Pacific Sunwear and Footaction U.S.A.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in 2016 Q2. Its down 0.19, from 1.11 in 2016Q1. The ratio worsened, 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.
Oz Ltd Partnership accumulated 0.27% or 1.58 million shares. Citigroup Incorporated has 217,263 shares for 0.01% of their US portfolio. Moreover, Texas Permanent School Fund has 0.04% invested in Skechers USA Inc (NYSE:SKX) for 101,622 shares. Ci last reported 0.2% of its portfolio in the stock. Public Employees Retirement Association Of Colorado owns 31,113 shares or 0.01% of their US portfolio. Cipher Cap Lp owns 28,114 shares or 0.06% of their US portfolio. Delta Asset Mngmt Ltd Liability Tn holds 85 shares or 0% of its portfolio. Paloma Prtn Mngmt Company, a Connecticut-based fund reported 37,359 shares. Wells Fargo And Com Mn accumulated 383,629 shares or 0% of the stock. Janney Montgomery Scott Limited Liability has 47,247 shares for 0.02% of their US portfolio. Cetera Advsr Ltd Liability reported 17,041 shares or 0.04% of all its holdings. Nuveen Asset Management Lc holds 72,620 shares or 0.01% of its portfolio. Icon Advisers Communication last reported 0.47% of its portfolio in the stock. Oakbrook Invests Ltd has 13,300 shares for 0.02% of their US portfolio. Moreover, Century Cos has 0% invested in Skechers USA Inc (NYSE:SKX) for 140,702 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 4 selling transactions for $3.46 million net activity. $33,953 worth of Skechers USA Inc (NYSE:SKX) shares were sold by Walsh Thomas. Another trade for 10,000 shares valued at $301,519 was made by GREENBERG JEFFREY on Friday, July 1. On Wednesday, November 2 GREENBERG MICHAEL sold $3.09 million worth of the stock or 150,000 shares. PACCIONE PHILLIP also sold $33,509 worth of Skechers USA Inc (NYSE:SKX) shares.

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 $3.34 billion. The Firm operates through three divisions: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales. It has a 12.76 P/E ratio. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and Internet retailers.

SKX Company Profile

Skechers U.S.A., Inc., incorporated on May 28, 1998, 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 Firm operates through three divisions: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and Internet retailers. In addition to wholesale distribution, the Company’s footwear is available at its e-commerce site and its own retail stores. The Firm operates approximately 120 concept stores, over 160 factory outlet stores and over 120 warehouse outlet stores in the United States, and approximately 80 concept stores, over 40 factory outlet stores, and over five warehouse outlet stores internationally.

More recent Skechers USA Inc (NYSE:SKX) news were published by: Fool.com which released: “Better Buy: Nike Inc. or Skechers USA Inc?” on October 13, 2016. Also Fool.com published the news titled: “Why Skechers USA Inc. Shares Stumbled Today” on July 22, 2016. Fool.com‘s news article titled: “Why Now Is the Right Time to Buy Skechers USA Inc” with publication date: September 24, 2016 was also an interesting one.

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