Steven Madden, Ltd. (NASDAQ:SHOO) – Stock analysts at KeyCorp upped their Q1 2018 earnings per share (EPS) estimates for shares of Steven Madden in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. KeyCorp analyst E. Yruma now forecasts that the textile maker will post earnings per share of $0.56 for the quarter, up from their prior estimate of $0.50. KeyCorp also issued estimates for Steven Madden’s Q3 2018 earnings at $0.98 EPS.
A number of other research firms have also recently issued reports on SHOO. Susquehanna Bancshares reissued a “buy” rating and issued a $48.00 target price on shares of Steven Madden in a research note on Monday, October 23rd. BidaskClub cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $51.00 price objective (up from $44.00) on shares of Steven Madden in a research report on Tuesday, January 9th. Buckingham Research reduced their price objective on Steven Madden from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Finally, Canaccord Genuity set a $47.00 price objective on Steven Madden and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $49.13.
Steven Madden (NASDAQ SHOO) traded down $1.25 during trading hours on Friday, reaching $44.95. The company’s stock had a trading volume of 437,543 shares, compared to its average volume of 404,335. Steven Madden has a 1 year low of $33.53 and a 1 year high of $49.28. The firm has a market capitalization of $2,656.68, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.
In related news, COO Awadhesh K. Sinha sold 6,500 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $45.03, for a total transaction of $292,695.00. Following the sale, the chief operating officer now owns 63,383 shares in the company, valued at $2,854,136.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard P. Randall sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the sale, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The disclosure for this sale can be found here. Insiders have sold 34,000 shares of company stock worth $1,460,100 in the last quarter. 2.06% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC raised its stake in Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,262 shares during the period. Fortaleza Asset Management Inc. bought a new stake in Steven Madden in the third quarter valued at approximately $158,000. First Quadrant L P CA bought a new stake in Steven Madden in the third quarter valued at approximately $191,000. Worth Venture Partners LLC bought a new stake in Steven Madden in the third quarter valued at approximately $205,000. Finally, Public Employees Retirement System of Ohio raised its stake in Steven Madden by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after buying an additional 415 shares during the period. Hedge funds and other institutional investors own 92.92% of the company’s stock.
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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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