Steven Madden (NASDAQ:SHOO) Director Arian Simone Reed Sells 3,600 Shares of Stock

Steven Madden, Ltd. (NASDAQ:SHOO) Director Arian Simone Reed sold 3,600 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.44, for a total transaction of $120,384.00. Following the completion of the transaction, the director directly owned 8,705 shares in the company, valued at $291,095.20. This trade represents a 29.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Steven Madden Trading Down 2.4%

Shares of SHOO traded down $0.78 on Friday, reaching $31.83. 501,480 shares of the company’s stock were exchanged, compared to its average volume of 1,567,175. The business has a 50 day moving average price of $40.37 and a two-hundred day moving average price of $37.87. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $46.88. The stock has a market capitalization of $2.32 billion, a P/E ratio of 51.35 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $753.70 million for the quarter, compared to analysts’ expectations of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Research analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.6%. Steven Madden’s payout ratio is 135.48%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SHOO. Jefferies Financial Group lowered Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research note on Thursday, February 5th. UBS Group reiterated a “neutral” rating on shares of Steven Madden in a research report on Monday, February 23rd. Zacks Research lowered shares of Steven Madden from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Needham & Company LLC decreased their price objective on shares of Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.00.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after buying an additional 485 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Steven Madden during the fourth quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Steven Madden during the third quarter worth $31,000. Global Retirement Partners LLC lifted its position in Steven Madden by 1,064.3% in the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 745 shares in the last quarter. Finally, First Horizon Corp boosted its stake in Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after purchasing an additional 317 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.