Steven Madden Ltd. (SHOO) Shares Gap Up to $34.21
Steven Madden Ltd. (NASDAQ:SHOO)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $34.16, but opened at $34.21. Steven Madden shares last traded at $35.18, with a volume of 258,899 shares.
SHOO has been the subject of several recent analyst reports. BB&T Corp. restated a “hold” rating on shares of Steven Madden in a research report on Saturday, June 11th. Canaccord Genuity restated a “buy” rating and set a $42.00 target price on shares of Steven Madden in a research report on Wednesday, June 8th. Zacks Investment Research upgraded Steven Madden from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Susquehanna initiated coverage on Steven Madden in a research report on Friday. They set a “positive” rating and a $42.00 target price for the company. Finally, Buckingham Research cut Steven Madden from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $36.00 in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Steven Madden currently has a consensus rating of “Hold” and an average target price of $38.82.
The firm’s 50 day moving average is $34.79 and its 200 day moving average is $34.62. The company has a market capitalization of $2.22 billion and a P/E ratio of 19.18.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. The company earned $325.40 million during the quarter, compared to the consensus estimate of $329.54 million. Steven Madden’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities analysts predict that Steven Madden Ltd. will post $1.99 earnings per share for the current fiscal year.
In other Steven Madden news, Director Rose Peabody Lynch sold 1,722 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $34.34, for a total transaction of $59,133.48. Following the sale, the director now directly owns 6,994 shares of the company’s stock, valued at $240,173.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of large investors have bought and sold shares of the stock. RS Investment Management Co. LLC boosted its stake in Steven Madden by 68.4% in the fourth quarter. RS Investment Management Co. LLC now owns 1,211,382 shares of the company’s stock worth $36,608,000 after buying an additional 492,110 shares in the last quarter. Morgan Stanley boosted its stake in Steven Madden by 538.8% in the fourth quarter. Morgan Stanley now owns 379,668 shares of the company’s stock worth $11,474,000 after buying an additional 320,233 shares in the last quarter. Systematic Financial Management LP boosted its stake in Steven Madden by 39.4% in the fourth quarter. Systematic Financial Management LP now owns 276,549 shares of the company’s stock worth $8,357,000 after buying an additional 78,172 shares in the last quarter. Schroder Investment Management Group boosted its stake in Steven Madden by 9.3% in the fourth quarter. Schroder Investment Management Group now owns 804,993 shares of the company’s stock worth $24,327,000 after buying an additional 68,593 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Steven Madden during the fourth quarter worth approximately $1,892,000.
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