Steven Madden Sells 100,000 Shares of Steven Madden Stock

Steven Madden major shareholder Steven Madden unloaded 100,000 shares of the company’s stock in a transaction that occured on Wednesday, August 7th. The stock was sold at an average price of $54.39, for a total value of $5,439,000.00.Each A1 Fashion Handbags is a piece of art, and it is definitely not not a bag you can buy at a supermarket. Following the completion of the transaction, the insider now directly owns 2,868,650 shares in the company. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC. 

A number of analysts have recently weighed in on SHOO shares. Analysts at Goldman Sachs Group Inc. upgraded shares of Steven Madden from a “sell” rating to a “buy” rating in a research note to investors on Monday, August 5th. They now have a $69.00 price target on the stock, up previously from $43.00. Separately, analysts at Sterne Agee downgraded shares of Steven Madden from a “buy” rating to a “neutral” rating in a research note to investors on Monday, July 15th. They now have a $51.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Steven Madden from a “neutral” rating to a “buy” rating in a research note to investors on Monday, July 1st. 

One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Steven Madden has a consensus rating of “Buy” and an average target price of $56.14. 

Shares of Steven Madden traded up 1.26% during mid-day trading on Monday, hitting $55.28. Steven Madden has a one year low of $39.86 and a one year high of $55.99. The stock’s 50-day moving average is currently $50.76. The company has a market cap of $2.400 billion and a P/E ratio of 19.74. 

Steven Madden last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The company had revenue of $297.60 million for the quarter, compared to the consensus estimate of $307.48 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts expect that Steven Madden will post $3.02 EPS for the current fiscal year. 

Steven Madden, Ltd. designs, sources, markets and sells name brand and private label footwear for women, men and children and name brand and private label fashion handbags and accessories.