Insider Sell: President Michael Greenberg Sells 91,500 Shares of Skechers USA Inc (SKX)
Michael Greenberg, President of Skechers USA Inc (NYSE:SKX), sold 91,500 shares of the company on March 11, 2024, according to a recent SEC filing. The transaction was executed at an average price of $60.27 per share, resulting in a total value of $5,514,705.
Skechers USA Inc, headquartered in Manhattan Beach, California, is a global leader in the footwear industry. It designs, develops, and markets a diverse range of lifestyle and performance footwear, apparel, and accessories for men, women, and children. The company's offerings are available in more than 170 countries worldwide through department and specialty stores, company-owned Skechers retail stores, and its e-commerce platform.
Over the past year, Michael Greenberg has sold a total of 372,903 shares of Skechers USA Inc and has not made any purchases of the stock. The insider's recent sell represents a significant portion of these transactions.
The insider transaction history for Skechers USA Inc shows a pattern of insider activity. In the past year, there has been only 1 insider buy, while there have been 11 insider sells, indicating a trend of insiders reducing their holdings in the company.
On the valuation front, Skechers USA Inc's shares were trading at $60.27 on the day of the insider's sell, giving the company a market capitalization of $9.388 billion. The price-earnings ratio of the company stands at 17.55, which is lower than the industry median of 19.9 and also below the company's historical median price-earnings ratio.
According to the GuruFocus Value, with a price of $60.27 and a GF Value of $55.64, Skechers USA Inc is considered to be Fairly Valued, with a price-to-GF-Value ratio of 1.08. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
