Steven Madden, Ltd. (NASDAQ:SHOO) – Stock analysts at KeyCorp cut their Q1 2018 earnings per share (EPS) estimates for shares of Steven Madden in a research report issued to clients and investors on Wednesday. KeyCorp analyst E. Yruma now forecasts that the textile maker will post earnings per share of $0.55 for the quarter, down from their prior estimate of $0.56. KeyCorp also issued estimates for Steven Madden’s Q2 2018 earnings at $0.64 EPS.
A number of other research analysts have also recently issued reports on SHOO. Susquehanna Bancshares reissued a “buy” rating and issued a $48.00 target price on shares of Steven Madden in a research note on Monday, October 23rd. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the company a “buy” rating in a research note on Tuesday, October 24th. B. Riley set a $47.00 target price on Steven Madden and gave the company a “buy” rating in a research note on Thursday, October 26th. Piper Jaffray Companies set a $43.00 target price on Steven Madden and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, Jefferies Group set a $39.00 target price on Steven Madden and gave the company a “hold” rating in a research note on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $49.13.
In other news, President Amelia Varela sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the transaction, the president now directly owns 113,007 shares of the company’s stock, valued at $4,834,439.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Awadhesh K. Sinha sold 6,500 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the transaction, the chief operating officer now directly owns 63,383 shares of the company’s stock, valued at $2,854,136.49. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock valued at $1,384,000 over the last ninety days. 2.06% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Fortaleza Asset Management Inc. acquired a new position in shares of Steven Madden during the third quarter worth about $158,000. First Quadrant L P CA bought a new stake in Steven Madden during the third quarter worth about $191,000. Wolverine Trading LLC raised its holdings in Steven Madden by 311.2% during the fourth quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock worth $211,000 after acquiring an additional 3,423 shares in the last quarter. Worth Venture Partners LLC bought a new stake in Steven Madden during the third quarter worth about $205,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Steven Madden by 9.1% during the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after acquiring an additional 415 shares in the last quarter. 93.60% of the stock is owned by institutional investors.
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About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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