http://finance.yahoo.com/news/skechers-usa-inc-skx-ceo-00150…
Don’t know the circumstances behind it, but $11 million is a big acquisition. Much better than the $10 million sold earlier this month by another SKX executive.
Tinker
3 Likes
do you know if he was just exercising options or was it an open market purchase?
Hi OEBR!
It was a market purchase:
http://www.form4oracle.com/company/skechers-usa-inc-skx?id=4…
Cheers!
Murph
Home Fool
(no position)
2 Likes
Just a bit of a follow up on the SKX insider buy: please note that earlier in the year the same person sold about $10M (scroll down for individual info):
http://www.form4oracle.com/company/skechers-usa-inc-skx?id=4…
Looks like he’s a pretty good trader: sell high, buy low. 
Cheers!
Murph
Home Fool
1 Like
I used to follow -man, is that a yo-yo.
sorry if this has been asked, but have they ever said what they will do with the growing cash amount? VL seems to show no buybacks, no dividends, which is consistent with what they always did (or didn’t do) before. Have they changed that tune at all?
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wow SKX is up over 15% (at the time of this post). That seems like a big move just from a CEO replacing shares he sold earlier in year. I also saw an analyst raised the company to a buy. Did I miss anything else? Seems like quite the move today.
Looks like he’s a pretty good trader: sell high, buy low.
If people believe he is good at trading SKX stock, that could be why the outsized pop the last couple days because of the CEO’s action.
1 Like
a follow-up - apologize if discussed before
no buyback or dividends last 3 years - none ytd, and none before
I guess you can look at this a couple ways:
*Good - the cash is always there, and since the company in the past has experienced incredible ups and downs, the business isn’t going anywhere and you are one quarter away from good (or bad) news moving it higher (or lower); they might do something dumb with the money
*Bad - shareholder returns are not a priority in terms of this quarter or next or in the short-term. Given the family controls the voting shares, this is never gonna change
Given who many stupid retailers/wholesalers* have wrecked their business with terrible capital allocation, I guess I’d side mostly with a positive, but it is really odd.
*CEO used to run LA Gear…which went BK. maybe why they hold cash with an iron grip?
https://en.wikipedia.org/wiki/LA_Gear
1 Like
$1.7 million payday for the CEO today…not bad…assuming it stays that way…wish he would told us before he bought the shares 
wish he would told us before he bought the shares
Well somebody knew something b/c there were a tremendous number of Dec $22 calls bought at the ask a couple of days ago for $.40.
They are now worth about $4.50
(Essentially someone purchased the right to buy shares at $22. If the stock stayed below $22, they would have lost everything but now they have mad 10x their money in a couple of days. )
5 Likes
Buckingham Research also upgraded it today, raising their price target to $31 (a 48% raise!):
The firm was impressed with the assortment of new Skechers products displayed at the Fashion Association of New York trade show. A sales inflection point is seen about one quarter away.
From http://seekingalpha.com/news/3227915-skechers-rallies-buckin…
Matt
Long SKX
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