A Major Shareholder at Skullcandy (NASDAQ: SKUL) is Selling Shares

By George MacDonald

Yesterday, a Major Shareholder at Skullcandy (NASDAQ: SKUL), Ptarmagin, Llc, sold shares of SKUL for $486.6k.

In addition to Ptarmagin, Llc, 6 other SKUL executives reported Sell trades in the last month. Over the last month, Ptarmagin, Llc has reported 4 Sell trades on SKUL for a total of $708k.

Based on Skullcandy`s latest earnings report from September 30, the company posted quarterly revenue of $67.17M and quarterly net profit of $2.3M. In comparison, last year the company earned revenue of $58.06M and had a net profit of $2.11M. The company has a one year high of $11.83 and a one year low of $3.96. SKUL’s market cap is $119M and the company has a P/E ratio of 16.6%.

Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $8.50, reflecting a -52.1% downside. Four different firms, including Merrill Lynch and D.A. Davidson, currently also have a Sell rating on the stock.

Looking at blogger coverage of SKUL, there is a 88% Bullish tendency on the stock, in relation to a 68% average bullish tendency within the Consumer Goods sector.

In the last 30 days, insiders have sold $486.6k worth of SKUL shares and purchased $36.82k worth of SKUL shares. Over the last 3 months, the insider sentiment on Skullcandy has been positive based on 32 corporate insider transactions. This sentiment is slightly higher than the average sector sentiment of insiders.

Skullcandy Inc designs, markets and distributes audio and gaming headphones, earbuds, speakers and other accessories under the Skullcandy, Astro Gaming and 2XL brands. The Company operates through its Domestic and International segment.