Michael Greenberg, President of Skechers USA Inc . (NYSE:SKX), recently disclosed stock transactions in a regulatory filing. According to InvestingPro data, the company maintains strong financial health with a GOOD overall rating and trades near its Fair Value. On December 31, 2024, Greenberg sold 10,274 shares of Class A Common Stock at an average price of $67.48 per share, totaling approximately $693,275. Following this sale, Greenberg's direct ownership stands at 149,327 shares of the company, which currently has a market capitalization of $10.2 billion.
Earlier, on December 30, 2024, Greenberg disposed of 10,559 shares through an automatic transaction priced at $67.72 per share, which was not a sale but an adjustment related to stock compensation. After these transactions, Greenberg's total shareholding amounts to 149,327 shares. The company's solid fundamentals are reflected in its moderate debt levels and strong liquidity position. For deeper insights into insider trading patterns and comprehensive financial analysis, consider accessing the detailed Pro Research Report available on InvestingPro.
In other recent news, footwear giant Skechers USA Inc. has been taking significant strides in its operations and financial performance. The company announced amendments to its corporate bylaws, permitting the issuance of uncertificated shares of stock, a move aligning with the growing trend of electronic book-entry forms of ownership. Skechers also reported robust third-quarter results, with record sales of $2.35 billion, marking a 16% increase from the previous year, driven by a 21% surge in wholesale operations and a 9.6% increase in Direct-to-Consumer sales.
Various analyst firms have adjusted their outlooks for Skechers. Piper Sandler initiated coverage with a Neutral rating, citing potential challenges in the China market and inventory concerns. However, Williams Trading and TD Cowen have shown confidence in the company, adjusting their stock price targets upward and maintaining Buy ratings. Their optimism stems from recent investor meetings, new product evaluations, and positive feedback from wholesale accounts.
Despite regional challenges, particularly in China, Skechers saw substantial growth in international markets, which now account for 61% of total revenue. These recent developments highlight Skechers' strong financial performance and the confidence of various analyst firms in the company's future prospects.
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