Skechers USA Inc (NYSE:SKX) saw unusually large options trading activity on Thursday. Traders bought 18,052 put options on the company. This represents an increase of 2,669% compared to the typical volume of 652 put options.

A number of equities research analysts have recently issued reports on SKX shares. Cowen reaffirmed a “buy” rating and issued a $35.00 target price on shares of Skechers USA in a report on Friday, October 27th. B. Riley set a $37.00 target price on shares of Skechers USA and gave the company a “buy” rating in a report on Friday, October 20th. Morgan Stanley upped their target price on shares of Skechers USA from $28.50 to $31.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Vetr cut shares of Skechers USA from a “strong-buy” rating to a “hold” rating and set a $33.73 target price on the stock. in a report on Monday, October 23rd. Finally, Wells Fargo & Co upped their target price on shares of Skechers USA from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $41.34.

In other news, Director Jeffrey Greenberg sold 75,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $35.16, for a total transaction of $2,637,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Morton D. Erlich sold 4,000 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $33.66, for a total transaction of $134,640.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at $403,920. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 580,750 shares of company stock valued at $21,665,988. Company insiders own 38.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SKX. Capital Growth Management LP bought a new position in Skechers USA in the 4th quarter valued at about $66,598,000. State Street Corp grew its position in shares of Skechers USA by 47.2% during the 2nd quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock worth $148,423,000 after purchasing an additional 1,613,977 shares in the last quarter. BlackRock Inc. grew its position in shares of Skechers USA by 6.5% during the 4th quarter. BlackRock Inc. now owns 12,404,460 shares of the textile maker’s stock worth $469,385,000 after purchasing an additional 756,078 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Skechers USA by 126.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,314,408 shares of the textile maker’s stock worth $32,544,000 after purchasing an additional 734,414 shares in the last quarter. Finally, Davidson Kempner Capital Management LP grew its position in shares of Skechers USA by 140.6% during the 3rd quarter. Davidson Kempner Capital Management LP now owns 962,500 shares of the textile maker’s stock worth $24,149,000 after purchasing an additional 562,500 shares in the last quarter. 68.59% of the stock is currently owned by hedge funds and other institutional investors.

Skechers USA (NYSE:SKX) opened at $40.00 on Tuesday. The firm has a market cap of $6,340.00, a PE ratio of 34.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.20. The company has a quick ratio of 2.06, a current ratio of 3.52 and a debt-to-equity ratio of 0.04. Skechers USA has a fifty-two week low of $22.64 and a fifty-two week high of $42.73.

Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The firm had revenue of $970.59 million for the quarter, compared to analysts’ expectations of $881.39 million. Skechers USA had a net margin of 4.30% and a return on equity of 14.63%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. equities research analysts anticipate that Skechers USA will post 2.27 earnings per share for the current year.

Skechers USA declared that its board has authorized a stock buyback plan on Thursday, February 8th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the textile maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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About Skechers USA

Skechers U.SA, 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 operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

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