David Weinberg, Chief Operating Officer of Skechers USA Inc . (NYSE:), has reported selling 8,219 shares of Class A Common Stock on December 31, 2024, at an average price of $67.48 per share. This transaction amounts to a total value of approximately $554,606. The sale comes as Skechers, currently valued at $10.2 billion, trades near its Fair Value according to InvestingPro analysis. The company maintains a strong financial health score and operates with moderate debt levels.
Following this transaction, Weinberg holds 122,211 shares directly. Additionally, a previous transaction on December 30, 2024, involved the disposition of 8,447 shares at a price of $67.72 per share, totaling $572,030. These shares were withheld for tax purposes related to the vesting of restricted stock units. The stock has shown resilience with a 15% return on equity and trades at an attractive P/E ratio of 16.5x. Get comprehensive insider trading analysis and 6 additional key insights with InvestingPro.
Weinberg also holds shares as a sole beneficiary and trustee of The David Weinberg Trust, which accounts for additional holdings of 178,708.27 shares. The company’s strong market position is reflected in its solid 53% gross margin and 10% revenue growth over the last twelve months.
In other recent news, Skechers USA Inc. has made significant strides in its operational and financial performance. The company reported record sales of $2.35 billion in the third quarter of 2024, marking a 16% increase from the previous year. This impressive growth in revenue was primarily driven by a 21% surge in wholesale operations and a 9.6% increase in Direct-to-Consumer sales. Amid regional challenges in China, Skechers experienced substantial growth in international markets, which now account for 61% of total revenue.
In a move to modernize its operations, Skechers has amended its corporate bylaws to allow the issuance of uncertificated shares of the company’s stock. This adjustment aligns with a growing trend among companies to transition from paper stock certificates to electronic book-entry forms of ownership.
Analysts from firms such as Piper Sandler, Williams Trading, and TD Cowen have provided varied perspectives on Skechers’ outlook. While Piper Sandler initiated a Neutral rating due to potential challenges in the China market and inventory concerns, Williams Trading and TD Cowen have shown confidence in Skechers by maintaining Buy ratings and adjusting their stock price targets upward. These recent developments highlight the evolving dynamics in Skechers’ operational and financial landscape.
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