Steven Madden, Ltd. (NASDAQ:SHOO) insider Karla Frieders sold 10,600 shares of the stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $37.59, for a total value of $398,454.00. Following the transaction, the insider now owns 79,269 shares in the company, valued at approximately $2,979,721.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Steven Madden, Ltd. (NASDAQ:SHOO) opened at 37.90 on Tuesday. The firm has a market cap of $2.27 billion, a P/E ratio of 18.67 and a beta of 0.43. Steven Madden, Ltd. has a 12-month low of $31.68 and a 12-month high of $40.55. The company’s 50 day moving average price is $36.50 and its 200 day moving average price is $36.04.
Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, February 28th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. Steven Madden had a net margin of 8.11% and a return on equity of 16.26%. The business had revenue of $336.40 million for the quarter, compared to analysts’ expectations of $338.19 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts forecast that Steven Madden, Ltd. will post $2.18 EPS for the current year.
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A number of large investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its stake in shares of Steven Madden by 6.7% in the third quarter. BlackRock Fund Advisors now owns 3,990,793 shares of the company’s stock valued at $137,922,000 after buying an additional 249,238 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Steven Madden by 3.0% in the second quarter. Macquarie Group Ltd. now owns 1,557,644 shares of the company’s stock valued at $53,240,000 after buying an additional 45,593 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Steven Madden by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,517,039 shares of the company’s stock valued at $54,236,000 after buying an additional 51,730 shares during the last quarter. State Street Corp increased its position in shares of Steven Madden by 5.3% in the fourth quarter. State Street Corp now owns 1,335,937 shares of the company’s stock valued at $47,761,000 after buying an additional 67,187 shares during the last quarter. Finally, Boston Partners increased its position in shares of Steven Madden by 6.4% in the third quarter. Boston Partners now owns 1,013,196 shares of the company’s stock valued at $35,017,000 after buying an additional 60,883 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. B. Riley raised Steven Madden from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $45.00 in a research report on Monday, February 27th. Canaccord Genuity set a $40.00 price target on Steven Madden and gave the stock a “buy” rating in a research report on Saturday, January 28th. Piper Jaffray Companies set a $33.00 price target on Steven Madden and gave the stock a “hold” rating in a research report on Tuesday, January 10th. Citigroup Inc reissued a “focus list” rating on shares of Steven Madden in a research report on Tuesday, March 7th. Finally, Wells Fargo & Co assumed coverage on Steven Madden in a research report on Tuesday, December 6th. They set a “market perform” rating and a $39.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $41.00.
About Steven Madden
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