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

Steven Madden, Ltd. (NASDAQ:SHOO) was the target of some unusual options trading on Tuesday. Stock investors bought 22,900 call options on the company. This is an increase of approximately 1,462% compared to the average volume of 1,466 call options.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the stock in a transaction that occurred 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 transaction, the director owned 8,705 shares in the company, valued at $291,095.20. This trade represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

A number of large investors have recently added to or reduced their stakes in the stock. CX Institutional increased its position in shares of Steven Madden by 912.7% in the third quarter. CX Institutional now owns 324,218 shares of the textile maker’s stock worth $10,855,000 after purchasing an additional 292,204 shares during the period. Creative Planning lifted its position in Steven Madden by 463.4% during the second quarter. Creative Planning now owns 89,156 shares of the textile maker’s stock worth $2,138,000 after purchasing an additional 73,331 shares during the period. Strs Ohio grew its stake in Steven Madden by 993.2% during the third quarter. Strs Ohio now owns 129,000 shares of the textile maker’s stock worth $4,319,000 after buying an additional 117,200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Steven Madden by 7.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,647 shares of the textile maker’s stock worth $447,000 after buying an additional 1,371 shares in the last quarter. Finally, SummerHaven Investment Management LLC bought a new position in Steven Madden in the 3rd quarter valued at about $1,088,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Price Performance

SHOO stock traded up $0.29 during trading on Tuesday, hitting $32.55. The company had a trading volume of 282,547 shares, compared to its average volume of 1,551,313. The company has a fifty day moving average price of $39.92 and a two-hundred day moving average price of $38.04. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88. The company has a market cap of $2.37 billion, a P/E ratio of 52.50 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm 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%.The company’s revenue was up 29.6% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.84 annualized dividend and a yield of 2.6%. Steven Madden’s dividend payout ratio (DPR) is 135.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SHOO shares. UBS Group reiterated a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. Williams Trading set a $48.00 price objective on shares of Steven Madden in a research report on Tuesday, March 10th. BTIG Research restated a “buy” rating and set a $50.00 price target on shares of Steven Madden in a research note on Thursday, February 26th. Needham & Company LLC reduced their price objective on Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.00.

About Steven Madden

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.