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 dated Thursday, March 12th. The stock was sold at an average price of $33.44, for a total transaction of $120,384.00. Following the transaction, the director owned 8,705 shares in the company, valued at $291,095.20. This represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Steven Madden Stock Performance

Shares of SHOO stock traded down $1.43 on Thursday, reaching $32.61. The stock had a trading volume of 1,215,059 shares, compared to its average volume of 1,591,091. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $46.88. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 52.60 and a beta of 1.13. The firm’s 50-day moving average is $40.55 and its two-hundred day moving average is $37.90. The company has a quick ratio of 1.11, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $753.70 million during the quarter, compared to analysts’ expectations of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.Steven Madden’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the company posted $0.55 earnings per share. On average, research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, February 26th. Needham & Company LLC decreased their price objective on shares of Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Telsey Advisory Group restated an “outperform” rating and set a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Finally, Zacks Research lowered shares of Steven Madden from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus target price of $44.00.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently modified their holdings of SHOO. AQR Capital Management LLC bought a new stake in Steven Madden in the 1st quarter valued at about $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Steven Madden by 3.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker’s stock worth $1,143,000 after purchasing an additional 1,437 shares during the period. Millennium Management LLC raised its position in shares of Steven Madden by 1,170.4% in the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after buying an additional 568,477 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Steven Madden by 5.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker’s stock valued at $5,388,000 after buying an additional 10,603 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Steven Madden by 273.1% in the first quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker’s stock valued at $4,196,000 after buying an additional 115,284 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.