Insider Selling: Steven Madden Ltd. (SHOO) CFO Sells $743,000.00 in Stock
Steven Madden Ltd. (NASDAQ:SHOO) CFO Arvind Dharia sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $37.15, for a total value of $743,000.00. Following the completion of the transaction, the chief financial officer now directly owns 101,662 shares of the company’s stock, valued at $3,776,743.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Steven Madden Ltd. (NASDAQ:SHOO) opened at 39.45 on Monday. The company’s 50-day moving average price is $34.82 and its 200 day moving average price is $34.63. Steven Madden Ltd. has a 12-month low of $27.80 and a 12-month high of $40.05. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 20.04 and a beta of 0.52.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Steven Madden had a return on equity of 16.26% and a net margin of 8.11%. The firm earned $408.40 million during the quarter, compared to analyst estimates of $404.58 million. During the same period last year, the company posted $0.70 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts predict that Steven Madden Ltd. will post $2.02 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in Steven Madden by 18.5% in the second quarter. Public Employees Retirement System of Ohio now owns 3,550 shares of the company’s stock valued at $121,000 after buying an additional 555 shares during the period. BlackRock Inc. raised its position in Steven Madden by 124.0% in the first quarter. BlackRock Inc. now owns 3,805 shares of the company’s stock valued at $140,000 after buying an additional 2,106 shares during the period. Strs Ohio raised its position in Steven Madden by 14.6% in the second quarter. Strs Ohio now owns 4,700 shares of the company’s stock valued at $160,000 after buying an additional 600 shares during the period. SG Americas Securities LLC acquired a new position in Steven Madden during the third quarter valued at $217,000. Finally, PineBridge Investments L.P. raised its position in Steven Madden by 3.8% in the second quarter. PineBridge Investments L.P. now owns 7,057 shares of the company’s stock valued at $241,000 after buying an additional 261 shares during the period. 94.39% of the stock is owned by hedge funds and other institutional investors.
SHOO has been the subject of several recent research reports. Susquehanna initiated coverage on Steven Madden in a research report on Friday, August 12th. They set a “positive” rating and a $42.00 price objective for the company. B. Riley reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Steven Madden in a research report on Monday, November 7th. Jefferies Group set a $40.00 price objective on Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Telsey Advisory Group reduced their price objective on Steven Madden from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research cut Steven Madden from a “hold” rating to a “sell” rating in a research report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Steven Madden currently has an average rating of “Hold” and an average target price of $38.20.
About Steven Madden
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