Skechers U.S.A. (NYSE:SKX) has tumbled 2.55% during the past week and has dropped 3.3% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.39%. Skechers U.S.A. (NYSE:SKX) has underperformed the index by 4.18% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Skechers U.S.A. (NYSE:SKX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.91 and $28.81 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.99, notching a gain of 0.07% for the day. The total traded volume was 1,700,460 . The stock had closed at $28.97 on the previous day.
The company shares have dropped -23.58% from its 1 Year high price. On Aug 6, 2015, the shares registered one year high at $54.53 and the one year low was seen on Nov 16, 2015. The 50-Day Moving Average price is $30.77 and the 200 Day Moving Average price is recorded at $30.29.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Greenberg Jeffrey, director of Skechers Usa Inc, had unloaded 10,000 shares at an average price of $31.36 in a transaction dated on June 1, 2016. The total value of the transaction was worth $313,600.
Many analysts have stated their opinion on the company shares. Macquarie initiates coverage on Skechers U.S.A. (NYSE:SKX) The current rating of the shares is Outperform. Equity Analysts at the Firm announces the price target to $45 per share. The rating by the firm was issued on April 7, 2016. Currently the company Insiders own 21.39% of Skechers U.S.A. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -14.79% . Institutional Investors own 68.08% of Skechers U.S.A. shares. During last six month period, the net percent change held by insiders has seen a change of 8%.
Skechers U.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 Companys brands are sold through department and specialty stores, athletic and independent retailers, boutiques and internet retailers. In addition to wholesale distribution, its footwear is available at its e-commerce site and its own retail stores. As of February 15, 2015, the Company owned and operated 119 concept stores, 146 factory outlet stores and 98 warehouse outlet stores in the United States, and 51 concept stores, 33 factory outlet stores, and three warehouse outlet stores internationally.