Insider Selling: Steven Madden Ltd. (SHOO) COO Sells $732,000.00 in Stock
Steven Madden Ltd. (NASDAQ:SHOO) COO Awadhesh K. Sinha sold 18,750 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $39.04, for a total transaction of $732,000.00. Following the completion of the sale, the chief operating officer now owns 60,993 shares of the company’s stock, valued at approximately $2,381,166.72. The transaction was disclosed in a filing with the SEC, which is available through this link.
Steven Madden Ltd. (NASDAQ:SHOO) opened at 37.65 on Thursday. Steven Madden Ltd. has a 52-week low of $27.80 and a 52-week high of $40.55. The company’s 50-day moving average is $35.14 and its 200 day moving average is $34.69. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 19.12 and a beta of 0.52.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.74 EPS for the quarter, topping the Zacks’ 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 company had revenue of $408.40 million for the quarter, compared to analysts’ expectations of $404.58 million. During the same period in the previous year, the firm earned $0.70 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that Steven Madden Ltd. will post $2.02 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Steven Madden by 27.5% in the second quarter. FMR LLC now owns 4,526,261 shares of the company’s stock worth $154,708,000 after buying an additional 974,945 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in Steven Madden during the second quarter worth approximately $21,335,000. Vaughan Nelson Investment Management L.P. acquired a new position in Steven Madden during the third quarter worth approximately $20,161,000. Victory Capital Management Inc. boosted its position in Steven Madden by 73.1% in the third quarter. Victory Capital Management Inc. now owns 882,024 shares of the company’s stock worth $30,483,000 after buying an additional 372,523 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in Steven Madden by 16.6% in the second quarter. William Blair Investment Management LLC now owns 2,352,900 shares of the company’s stock worth $80,422,000 after buying an additional 334,396 shares in the last quarter. 94.39% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on SHOO. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Thursday. B. Riley reiterated a “neutral” rating and issued a $40.00 target price on shares of Steven Madden in a research note on Monday, November 7th. Jefferies Group reiterated a “buy” rating and issued a $40.00 target price on shares of Steven Madden in a research note on Thursday, November 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $40.00 target price on shares of Steven Madden in a research note on Monday, October 31st. Finally, Susquehanna began coverage on shares of Steven Madden in a research note on Friday, August 12th. They issued a “positive” rating and a $42.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Steven Madden presently has an average rating of “Hold” and an average target price of $38.40.
About Steven Madden
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