Steven Madden (NASDAQ:SHOO) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Steven Madden, Ltd. (NASDAQ:SHOO) shares passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $44.02 and traded as high as $45.12. Steven Madden shares last traded at $44.93, with a volume of 1,198,133 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Telsey Advisory Group upped their target price on shares of Steven Madden from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Citigroup reiterated a “buy” rating and issued a $55.00 price target (up from $45.00) on shares of Steven Madden in a research note on Friday, July 31st. Williams Trading set a $56.00 price target on Steven Madden in a research note on Monday, August 3rd. Finally, Capital One Financial set a $60.00 price target on Steven Madden in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Steven Madden presently has an average rating of “Moderate Buy” and an average target price of $52.30.

Steven Madden Stock Down 3.2%

The company has a market capitalization of $3.18 billion, a PE ratio of 21.86 and a beta of 1.17. The company’s 50 day moving average is $43.98 and its two-hundred day moving average is $41.46. The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 0.13.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, July 30th. The textile maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. Steven Madden had a net margin of 5.23% and a return on equity of 13.85%. The business had revenue of $665.87 million for the quarter, compared to analysts’ expectations of $635.39 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, analysts anticipate that Steven Madden, Ltd. will post 2.15 earnings per share for the current year.

Insider Buying and Selling

In other Steven Madden news, Director Mitchell S. Klipper sold 3,918 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total transaction of $190,179.72. Following the completion of the transaction, the director owned 32,555 shares in the company, valued at $1,580,219.70. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Arian Reed sold 1,250 shares of Steven Madden stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $48.76, for a total value of $60,950.00. Following the completion of the sale, the director directly owned 8,196 shares in the company, valued at approximately $399,636.96. The trade was a 13.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 9,086 shares of company stock worth $440,212. Corporate insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SHOO. Integrated Wealth Concepts LLC bought a new stake in Steven Madden in the second quarter worth $32,000. Signature Resources Capital Management LLC bought a new position in Steven Madden during the first quarter valued at $49,000. Reyes Financial Architecture Inc. bought a new position in Steven Madden during the third quarter valued at $86,000. Public Employees Retirement System of Ohio purchased a new position in shares of Steven Madden in the 2nd quarter worth $95,000. Finally, Nykredit A S purchased a new position in shares of Steven Madden in the 2nd quarter worth $128,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Company Profile

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.