Insider Selling: Steven Madden, Ltd. (NASDAQ:SHOO) Director Sells $144,643.59 in Stock

Steven Madden, Ltd. (NASDAQ:SHOO) Director Robert Garrett Smith sold 3,393 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $42.63, for a total value of $144,643.59. Following the completion of the transaction, the director now directly owns 11,652 shares of the company’s stock, valued at $496,724.76. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of NASDAQ SHOO opened at $43.18 on Friday. The stock has a fifty day moving average price of $36.74 and a two-hundred day moving average price of $33.70. The firm has a market cap of $3.63 billion, a P/E ratio of 23.60, a PEG ratio of 3.67 and a beta of 0.82. Steven Madden, Ltd. has a 1 year low of $27.88 and a 1 year high of $43.91.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 29th. The textile maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The firm had revenue of $497.31 million during the quarter, compared to analyst estimates of $487.18 million. Steven Madden had a return on equity of 20.01% and a net margin of 7.71%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. On average, analysts predict that Steven Madden, Ltd. will post 1.94 EPS for the current year.

A number of brokerages recently issued reports on SHOO. BidaskClub raised Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. B. Riley set a $42.00 price objective on Steven Madden and gave the stock a “buy” rating in a report on Friday, July 19th. Zacks Investment Research lowered Steven Madden from a “hold” rating to a “sell” rating and set a $43.00 price objective for the company. in a report on Wednesday, October 30th. Telsey Advisory Group increased their price objective on Steven Madden from $36.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Citigroup set a $37.00 price objective on Steven Madden and gave the stock a “hold” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $40.00.

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC bought a new position in Steven Madden during the 2nd quarter valued at $12,004,000. SG Americas Securities LLC boosted its stake in Steven Madden by 53.9% during the 2nd quarter. SG Americas Securities LLC now owns 22,648 shares of the textile maker’s stock valued at $769,000 after purchasing an additional 7,929 shares in the last quarter. Aperio Group LLC boosted its stake in Steven Madden by 3.3% during the 2nd quarter. Aperio Group LLC now owns 33,838 shares of the textile maker’s stock valued at $1,149,000 after purchasing an additional 1,071 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Steven Madden by 126.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 60,224 shares of the textile maker’s stock valued at $2,155,000 after purchasing an additional 33,643 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Steven Madden by 32.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 121,422 shares of the textile maker’s stock valued at $4,053,000 after purchasing an additional 30,057 shares in the last quarter. 96.53% of the stock is owned by hedge funds and other institutional investors.

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, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Insider Buying and Selling by Quarter for Steven Madden (NASDAQ:SHOO)

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