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.
Several equities analysts recently weighed in on the company. B. Riley reissued a “neutral” rating and set a $40.00 price objective on shares of Steven Madden in a research report on Saturday, August 6th. Jefferies Group set a $40.00 price objective on Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Telsey Advisory Group cut their price objective on Steven Madden from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, August 3rd. Piper Jaffray Cos. reissued a “hold” rating and set a $34.00 price objective on shares of Steven Madden in a research report on Friday, July 29th. Finally, Buckingham Research cut Steven Madden from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $40.00 to $36.00 in a research report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $38.50.
The company has a market capitalization of $2.16 billion and a price-to-earnings ratio of 18.69. The stock has a 50-day moving average price of $34.73 and a 200 day moving average price of $34.58.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The company earned $325.40 million during the quarter, compared to the consensus estimate of $329.54 million. During the same quarter in the previous year, the business earned $0.40 EPS. Steven Madden’s revenue was up .6% on a year-over-year basis. Equities analysts predict that Steven Madden Ltd. will post $1.99 earnings per share for the current year.
In related news, Director Rose Peabody Lynch sold 1,722 shares of Steven Madden 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 completion of the transaction, the director now owns 6,994 shares in the company, valued at $240,173.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of institutional investors have bought and sold shares of SHOO. US Bancorp DE boosted its position in Steven Madden by 24.9% in the fourth quarter. US Bancorp DE now owns 40,560 shares of the company’s stock worth $1,226,000 after buying an additional 8,074 shares during the last quarter. New York State Common Retirement Fund boosted its position in Steven Madden by 4.9% in the fourth quarter. New York State Common Retirement Fund now owns 61,655 shares of the company’s stock worth $1,863,000 after buying an additional 2,900 shares during the last quarter. Trexquant Investment LP acquired a new position in Steven Madden during the fourth quarter worth approximately $1,892,000. Systematic Financial Management LP boosted its position 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 during the last quarter. Finally, Morgan Stanley boosted its position 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 during the last quarter.
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