Steven Madden Target of Unusually High Options Trading (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) saw unusually large options trading activity on Tuesday. Stock investors acquired 5,461 call options on the company. This is an increase of 789% compared to the average daily volume of 614 call options.

Steven Madden Stock Down 0.5%

SHOO stock opened at $25.96 on Wednesday. Steven Madden has a twelve month low of $19.05 and a twelve month high of $50.01. The company has a market cap of $1.89 billion, a PE ratio of 11.05 and a beta of 1.12. The business’s 50-day simple moving average is $23.06 and its 200 day simple moving average is $32.57.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $551.38 million during the quarter, compared to analysts’ expectations of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 EPS. On average, equities research analysts anticipate that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.24%. Steven Madden’s dividend payout ratio (DPR) is presently 36.21%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHOO. Loop Capital lowered their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Citigroup reduced their price objective on Steven Madden from $35.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Friday, May 2nd. Piper Sandler reduced their price objective on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, UBS Group upped their target price on Steven Madden from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.50.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Steven Madden in the first quarter valued at approximately $349,000. Intech Investment Management LLC boosted its stake in Steven Madden by 60.3% in the first quarter. Intech Investment Management LLC now owns 53,976 shares of the textile maker’s stock worth $1,438,000 after purchasing an additional 20,296 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Steven Madden by 273.1% during the first quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker’s stock worth $4,196,000 after purchasing an additional 115,284 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Steven Madden by 5.5% during 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 worth $5,388,000 after purchasing an additional 10,603 shares during the last quarter. Finally, Caxton Associates LLP bought a new position in shares of Steven Madden in the first quarter valued at about $2,073,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.