Traders Buy Large Volume of Call Options on Steven Madden (SHOO)
Steven Madden, Ltd. (NASDAQ:SHOO) was the recipient of unusually large options trading activity on Monday. Traders acquired 1,534 call options on the company. This is an increase of approximately Infinity compared to the average volume of 0 call options.
Shares of Steven Madden (NASDAQ:SHOO) opened at $38.50 on Thursday. Steven Madden has a 52-week low of $33.50 and a 52-week high of $44.40. The company has a market cap of $2,346.40, a PE ratio of 17.72, a PEG ratio of 1.50 and a beta of 0.48.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. During the same period in the prior year, the firm posted $0.74 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. equities analysts anticipate that Steven Madden will post 2.21 EPS for the current fiscal year.
In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the sale, the director now owns 22,809 shares of the company’s stock, valued at $867,882.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.06% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC boosted its stake in Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after acquiring an additional 1,262 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Steven Madden in the second quarter valued at about $127,000. First Mercantile Trust Co. boosted its stake in Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after acquiring an additional 60 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new position in Steven Madden in the third quarter valued at about $158,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Steven Madden by 9.7% in the first quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock valued at $176,000 after acquiring an additional 403 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.
SHOO has been the topic of a number of recent research reports. Susquehanna Bancshares Inc reiterated a “buy” rating and set a $48.00 price target on shares of Steven Madden in a report on Monday, October 23rd. Zacks Investment Research lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 26th. Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a report on Tuesday, August 15th. Finally, Telsey Advisory Group lifted their price target on shares of Steven Madden from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Steven Madden presently has a consensus rating of “Hold” and an average price target of $43.96.
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Steven Madden Company Profile
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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