Traders Buy Large Volume of Call Options on Steven Madden (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) saw unusually large options trading activity on Tuesday. Traders acquired 22,900 call options on the stock. This represents an increase of 1,462% compared to the average volume of 1,466 call options.

Insider Buying and Selling

In related news, Director Arian Simone Reed sold 3,600 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.44, for a total transaction of $120,384.00. Following the sale, the director owned 8,705 shares of the company’s stock, valued at approximately $291,095.20. This trade represents a 29.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SHOO. Los Angeles Capital Management LLC bought a new position in Steven Madden in the 4th quarter valued at $30,000. Global Retirement Partners LLC boosted its stake in shares of Steven Madden by 1,064.3% during the fourth quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 745 shares during the period. First Horizon Corp grew its holdings in Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after acquiring an additional 317 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Steven Madden in the third quarter worth about $31,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Steven Madden by 79.4% during the fourth quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock valued at $41,000 after buying an additional 435 shares during the period. Institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SHOO. BTIG Research restated a “buy” rating and set a $50.00 target price on shares of Steven Madden in a report on Thursday, February 26th. Needham & Company LLC dropped their target price on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Telsey Advisory Group reiterated an “outperform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Finally, Williams Trading set a $48.00 target price on shares of Steven Madden in a report on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Steven Madden presently has a consensus rating of “Hold” and an average target price of $44.00.

Steven Madden Stock Up 2.4%

SHOO opened at $33.04 on Wednesday. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88. The company’s 50-day moving average is $39.71 and its 200 day moving average is $38.07. The firm has a market capitalization of $2.41 billion, a P/E ratio of 53.29 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The company had revenue of $753.70 million during the quarter, compared to analyst estimates of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.Steven Madden’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. Research analysts expect that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, March 11th. Steven Madden’s payout ratio is presently 135.48%.

Steven Madden Company Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.