Steven Madden, Ltd. (NASDAQ:SHOO) CEO Edward R. Rosenfeld sold 33,000 shares of Steven Madden stock in a transaction on Friday, March 16th. The shares were sold at an average price of $45.82, for a total value of $1,512,060.00. Following the completion of the transaction, the chief executive officer now owns 515,200 shares of the company’s stock, valued at approximately $23,606,464. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Steven Madden stock opened at $45.90 on Thursday. The firm has a market capitalization of $2,701.03, a price-to-earnings ratio of 22.39, a PEG ratio of 1.47 and a beta of 0.45. Steven Madden, Ltd. has a 52-week low of $35.55 and a 52-week high of $49.28.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, February 27th. The textile maker reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The company had revenue of $364.40 million during the quarter, compared to the consensus estimate of $360.27 million. Steven Madden had a return on equity of 16.68% and a net margin of 7.63%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. equities analysts forecast that Steven Madden, Ltd. will post 2.67 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Wolverine Trading LLC grew its stake in shares of Steven Madden by 311.2% during the fourth quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock worth $211,000 after purchasing an additional 3,423 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of Steven Madden during the fourth quarter worth $248,000. Sawgrass Asset Management LLC acquired a new stake in shares of Steven Madden during the third quarter worth $238,000. Jefferies Group LLC acquired a new stake in shares of Steven Madden during the fourth quarter worth $261,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Steven Madden during the third quarter worth $242,000. 95.51% of the stock is owned by institutional investors and hedge funds.
SHOO has been the subject of several research analyst reports. Buckingham Research upgraded Steven Madden from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $39.00 to $48.00 in a research report on Wednesday, November 29th. Canaccord Genuity set a $47.00 price objective on Steven Madden and gave the company a “buy” rating in a research report on Thursday, November 30th. Susquehanna Bancshares reiterated a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Monday, December 4th. Wedbush reiterated a “buy” rating and issued a $53.00 price objective on shares of Steven Madden in a research report on Tuesday, December 19th. Finally, Zacks Investment Research upgraded Steven Madden from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $49.29.
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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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