Traders Purchase Large Volume of Steven Madden Call Options (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) was the target of unusually large options trading on Tuesday. Traders acquired 22,900 call options on the stock. This represents an increase of 1,462% compared to the average daily volume of 1,466 call options.

Steven Madden Trading Down 1.3%

Shares of SHOO opened at $32.61 on Thursday. The stock has a market capitalization of $2.38 billion, a PE ratio of 52.60 and a beta of 1.13. The company’s fifty day moving average is $39.48 and its 200 day moving average is $38.03. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88.

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

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, March 11th will be issued a $0.21 dividend. 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 dividend payout ratio (DPR) is presently 135.48%.

Analyst Ratings Changes

Several research firms recently weighed in on SHOO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. BTIG Research reiterated a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 26th. Needham & Company LLC cut their price objective on Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, Williams Trading set a $48.00 target price on Steven Madden in a report on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.00.

Insiders Place Their Bets

In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 8,705 shares of the company’s stock, valued at $291,095.20. This trade represents a 29.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Steven Madden

Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Steven Madden by 13.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker’s stock valued at $78,000 after purchasing an additional 283 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Steven Madden by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,640 shares of the textile maker’s stock worth $693,000 after buying an additional 300 shares during the last quarter. First Horizon Corp increased its position in Steven Madden by 55.1% during the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after buying an additional 317 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Steven Madden by 2.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,738 shares of the textile maker’s stock valued at $572,000 after buying an additional 321 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Steven Madden by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 53,404 shares of the textile maker’s stock valued at $1,281,000 after buying an additional 378 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Steven Madden Company Profile

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.