Skechers USA Inc . (NYSE:SKX) has reported transactions involving its Chief Financial Officer, John Vandemore, in a recent filing with the Securities and Exchange Commission. On March 15, Vandemore sold 6,067 shares of Class A Common Stock at an average price of $61.11 per share, amounting to over $370,754 in total.
The transactions, which occurred over a two-day period, also included an acquisition of shares by Vandemore. On March 14, he was awarded 12,303 shares at no cost, as part of a performance-based stock award granted in 2021, linked to the company's total stock return over three years. Additionally, on March 15, Vandemore received 25,000 restricted shares of Class A Common Stock, with vesting scheduled over the next three years, and contingent on continued service with Skechers.
Furthermore, Vandemore disposed of 6,236 shares on March 14 for $61.42 each, totaling $383,015. This transaction was related to the vesting of shares and was likely a sell-to-cover event to satisfy tax withholding obligations associated with the vesting of performance-based stock awards.
Investors may note that these transactions are part of the routine disclosures made by company executives and are documented for regulatory purposes. The sales and acquisitions by Vandemore reflect a mix of performance-based incentives and personal portfolio management.
As of the latest report, following these transactions, Vandemore holds a total of 98,815 shares of Skechers Class A Common Stock directly. These filings provide transparency into the trading activities of the company's insiders and are available for public scrutiny.
Skechers, known for its footwear, continues to be a significant player in the industry, and these transactions offer insights into the movements of its top executives. Investors often monitor such filings to understand the confidence and actions of company insiders regarding their own stock.
InvestingPro Insights
Amidst the insider transactions at Skechers USA Inc. (NYSE:SKX), investors can gain additional insights by considering key financial metrics and expert analysis. Skechers is currently trading at a P/E ratio of 17.22, which is relatively low given the company's near-term earnings growth potential. This could indicate that the stock is undervalued, suggesting a potential opportunity for investors looking at earnings multiples.
The company's fundamentals reveal a solid financial position. Skechers' liquid assets have surpassed its short-term obligations, reflecting financial stability and the ability to cover immediate liabilities. Moreover, the company operates with a moderate level of debt, which is a reassuring sign for investors concerned about long-term financial health. Analysts have also predicted that Skechers will remain profitable this year, continuing its positive performance over the last twelve months.
From a growth perspective, Skechers has demonstrated a revenue increase of 7.47% over the last twelve months as of Q4 2023, with a gross profit margin of 51.9%. These figures highlight the company's ability to not only increase sales but also maintain profitability in its operations.
For those interested in further analysis and metrics, InvestingPro offers additional InvestingPro Tips for Skechers, including insights on the company's high return over the last decade and its significant price uptick over the last six months. With a total of 8 tips available on InvestingPro, investors can deepen their understanding of the company's performance and potential. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and access these valuable insights.
Investors keeping an eye on Skechers' stock movements following executive transactions can also consider these broader financial indicators to inform their investment decisions.
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