Steven Madden (NASDAQ:SHOO) Director Sells $120,384.00 in Stock

Steven Madden, Ltd. (NASDAQ:SHOO) Director Arian Simone Reed sold 3,600 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the completion of the transaction, the director owned 8,705 shares of the company’s stock, valued at $291,095.20. This represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Steven Madden Stock Down 4.2%

SHOO stock traded down $1.43 during mid-day trading on Thursday, hitting $32.61. 1,215,059 shares of the company were exchanged, compared to its average volume of 1,591,091. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. The firm has a market cap of $2.38 billion, a P/E ratio of 52.60 and a beta of 1.13. The firm’s 50 day simple moving average is $40.55 and its 200 day simple moving average is $37.90. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $46.88.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share 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 company had revenue of $753.70 million during the quarter, compared to analysts’ expectations of $758.53 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, sell-side analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

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

Analyst Upgrades and Downgrades

SHOO has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Williams Trading set a $48.00 target price on Steven Madden in a research report on Tuesday. Zacks Research cut Steven Madden from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target for the company. in a research report on Thursday, February 5th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Institutional Trading of Steven Madden

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Steven Madden by 86.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock worth $25,000 after purchasing an additional 485 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Steven Madden in the fourth quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in Steven Madden during the third quarter worth $31,000. Global Retirement Partners LLC raised its position in Steven Madden by 1,064.3% during the fourth quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock worth $34,000 after acquiring an additional 745 shares in the last quarter. Finally, First Horizon Corp raised its position in Steven Madden by 55.1% during the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after acquiring an additional 317 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.