Steven Madden (NASDAQ:SHOO) Stock Crosses Above Fifty Day Moving Average – Time to Sell?

Steven Madden, Ltd. (NASDAQ:SHOO) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $44.02 and traded as high as $45.12. Steven Madden shares last traded at $44.93, with a volume of 1,198,133 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Williams Trading set a $56.00 target price on shares of Steven Madden in a research report on Monday, August 3rd. Zacks Research downgraded Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. BMO Capital Markets began coverage on Steven Madden in a research report on Tuesday, September 8th. They set an “outperform” rating and a $60.00 target price for the company. BTIG Research reaffirmed a “buy” rating and set a $55.00 target price on shares of Steven Madden in a report on Tuesday. Finally, UBS Group reissued a “neutral” rating and issued a $45.00 price target (up from $40.00) on shares of Steven Madden in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

Steven Madden Price Performance

The business has a 50-day moving average of $44.02 and a 200 day moving average of $41.46. The firm has a market capitalization of $3.29 billion, a P/E ratio of 22.58 and a beta of 1.17. The company has a current ratio of 1.91, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Thursday, July 30th. The textile maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.33 by $0.11. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%. The firm had revenue of $665.87 million during the quarter, compared to the consensus estimate of $635.39 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, sell-side analysts predict that Steven Madden, Ltd. will post 2.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Steven Madden news, Director Mitchell Klipper sold 3,918 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $48.54, for a total value of $190,179.72. Following the transaction, the director directly owned 32,555 shares of the company’s stock, valued at approximately $1,580,219.70. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arian Reed sold 1,250 shares of Steven Madden stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $48.76, for a total transaction of $60,950.00. Following the transaction, the director owned 8,196 shares of the company’s stock, valued at $399,636.96. This represents a 13.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 9,086 shares of company stock worth $440,212. Insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in Steven Madden by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker’s stock valued at $79,819,000 after buying an additional 99,066 shares during the last quarter. Neumeier Poma Investment Counsel LLC purchased a new position in Steven Madden during the 2nd quarter worth $49,890,563. Vise Technologies Inc. purchased a new position in Steven Madden during the 3rd quarter worth $29,302,000. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Steven Madden by 13.6% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 645,578 shares of the textile maker’s stock worth $28,903,000 after acquiring an additional 77,108 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Steven Madden in the second quarter valued at about $25,618,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.