Steven Madden, Ltd. (NASDAQ:SHOO) Director Peter Migliorini sold 1,000 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $54.18, for a total value of $54,180.00. Following the completion of the transaction, the director now owns 6,826 shares of the company’s stock, valued at approximately $369,832.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Steven Madden traded down $0.10, reaching $53.45, during mid-day trading on Thursday, Marketbeat Ratings reports. The stock had a trading volume of 2,815 shares, compared to its average volume of 456,794. Steven Madden, Ltd. has a 12-month low of $37.25 and a 12-month high of $55.50. The stock has a market cap of $3.18 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.89 and a beta of 0.46.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Friday, April 20th. The textile maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. Steven Madden had a return on equity of 16.75% and a net margin of 8.06%. The business had revenue of $389.00 million during the quarter, compared to analysts’ expectations of $379.67 million. During the same quarter last year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. analysts forecast that Steven Madden, Ltd. will post 2.7 EPS for the current year.
Several research analysts have issued reports on the company. Telsey Advisory Group increased their price objective on Steven Madden from $55.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 6th. Zacks Investment Research cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Saturday, June 9th. Canaccord Genuity increased their price objective on Steven Madden from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, June 7th. B. Riley set a $55.00 price objective on Steven Madden and gave the stock a “buy” rating in a research report on Monday, April 23rd. Finally, Buckingham Research set a $54.00 price target on Steven Madden and gave the company a “buy” rating in a research report on Tuesday, April 24th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $51.27.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Trading LLC boosted its stake in shares of Steven Madden by 311.2% during the fourth quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock valued at $211,000 after acquiring an additional 3,423 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new stake in shares of Steven Madden during the fourth quarter valued at $248,000. Jefferies Group LLC acquired a new stake in shares of Steven Madden during the fourth quarter valued at $261,000. Asset Management One Co. Ltd. acquired a new stake in shares of Steven Madden during the first quarter valued at $254,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Steven Madden during the first quarter valued at $270,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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