Awadhesh K. Sinha Sells 6,500 Shares of Steven Madden, Ltd. (SHOO) Stock

Steven Madden, Ltd. (NASDAQ:SHOO) COO Awadhesh K. Sinha sold 6,500 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the sale, the chief operating officer now owns 63,383 shares in the company, valued at $2,854,136.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Steven Madden, Ltd. (NASDAQ SHOO) traded down $0.10 during midday trading on Friday, reaching $48.20. The company’s stock had a trading volume of 281,681 shares, compared to its average volume of 468,511. The firm has a market capitalization of $2,850.00, a P/E ratio of 22.95, a PEG ratio of 1.81 and a beta of 0.51. Steven Madden, Ltd. has a 1 year low of $33.50 and a 1 year high of $48.80.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $441.19 million for the quarter, compared to the consensus estimate of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. equities analysts anticipate that Steven Madden, Ltd. will post 2.21 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP increased its position in Steven Madden by 69.6% during the third quarter. GSA Capital Partners LLP now owns 13,991 shares of the textile maker’s stock worth $606,000 after buying an additional 5,740 shares during the last quarter. Algert Global LLC acquired a new position in Steven Madden during the third quarter worth approximately $455,000. Sterling Capital Management LLC grew its position in shares of Steven Madden by 15.8% in the third quarter. Sterling Capital Management LLC now owns 43,886 shares of the textile maker’s stock valued at $1,900,000 after purchasing an additional 5,984 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Steven Madden by 4.9% in the third quarter. California Public Employees Retirement System now owns 133,655 shares of the textile maker’s stock valued at $5,787,000 after purchasing an additional 6,255 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Steven Madden in the third quarter valued at approximately $639,000. 92.98% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on SHOO shares. Zacks Investment Research lowered Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. ValuEngine lowered Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Susquehanna Bancshares restated a “buy” rating and issued a $48.00 price target on shares of Steven Madden in a report on Monday, October 23rd. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the company a “buy” rating in a report on Tuesday, October 24th. Finally, B. Riley set a $47.00 price target on Steven Madden and gave the company a “buy” rating in a report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Steven Madden currently has a consensus rating of “Buy” and a consensus price target of $48.21.

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About Steven Madden

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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