Short Interest Update on Skechers U.S.A. (SKX)

Skechers U.S.A. (SKX) : The traders have covered their outstanding shorts in Skechers U.S.A. (SKX) to the tune of -89,648 shares, a change of -0.8%. As on Jul 29, 2016, the outstanding shorts on the stock were 11,830,996 shares, however, by August 15, 2016, the shorts had reduced to 11,741,348 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 9% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 3,132,175 shares. The short interest information was released on Wednesday Aug 24th after the market close.

Skechers U.S.A. (NYSE:SKX): The stock opened at $25.18 on Wednesday but the bulls could not build on the opening and the stock topped out at $25.48 for the day. The stock traded down to $24.83 during the day, due to lack of any buying support eventually closed down at $24.90 with a loss of -1.11% for the day. The stock had closed at $25.18 on the previous day. The total traded volume was 1,603,855 shares.


In a related news, The Securities and Exchange Commission has divulged that Paccione Phillip, officer (General Counsel & Secretary) of Skechers Usa Inc, had unloaded 1,389 shares at an average price of $24.12 in a transaction dated on July 28, 2016. The total value of the transaction was worth $33,503.

Skechers U.Skechers U.S.A., Inc. is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Companys brands are sold through department and specialty stores, athletic and independent retailers, boutiques and internet retailers. In addition to wholesale distribution, its footwear is available at its e-commerce site and its own retail stores. As of February 15, 2015, the Company owned and operated 119 concept stores, 146 factory outlet stores and 98 warehouse outlet stores in the United States, and 51 concept stores, 33 factory outlet stores, and three warehouse outlet stores internationally.

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