Investors Buy High Volume of Steven Madden Call Options (SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 1,836 call options on the stock. This is an increase of approximately 2,112% compared to the typical daily volume of 83 call options.

SHOO has been the topic of several analyst reports. BidaskClub lowered shares of Steven Madden from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Telsey Advisory Group lowered shares of Steven Madden from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $40.00 to $37.00 in a report on Thursday, January 31st. ValuEngine raised shares of Steven Madden from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Piper Jaffray Companies set a $38.00 price target on shares of Steven Madden and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Friday, February 15th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.93.

SHOO opened at $33.63 on Thursday. Steven Madden has a twelve month low of $27.88 and a twelve month high of $39.30. The stock has a market capitalization of $3.15 billion, a PE ratio of 18.38, a PEG ratio of 2.22 and a beta of 0.60.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, April 25th. The textile maker reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.05. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. The business had revenue of $410.90 million for the quarter, compared to analyst estimates of $404.31 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Steven Madden will post 1.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Monday, June 17th. Steven Madden’s payout ratio is 30.60%.

In other Steven Madden news, EVP Michael Paradise sold 2,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total value of $71,980.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rose Peabody Lynch sold 2,760 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $35.83, for a total transaction of $98,890.80. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SHOO. Resources Investment Advisors Inc. grew its holdings in Steven Madden by 50.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 885 shares of the textile maker’s stock worth $27,000 after acquiring an additional 295 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Steven Madden by 61.6% during the 4th quarter. Advisors Asset Management Inc. now owns 832 shares of the textile maker’s stock worth $25,000 after acquiring an additional 317 shares during the last quarter. US Bancorp DE grew its holdings in Steven Madden by 2.4% during the 1st quarter. US Bancorp DE now owns 16,027 shares of the textile maker’s stock worth $542,000 after acquiring an additional 377 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Steven Madden by 41.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,292 shares of the textile maker’s stock worth $39,000 after acquiring an additional 378 shares during the last quarter. Finally, Mason Street Advisors LLC grew its holdings in Steven Madden by 1.6% during the 1st quarter. Mason Street Advisors LLC now owns 25,107 shares of the textile maker’s stock worth $850,000 after acquiring an additional 392 shares during the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Investors Buy High Volume of Steven Madden Call Options (SHOO)” was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.chaffeybreeze.com/2019/05/09/investors-buy-high-volume-of-steven-madden-call-options-shoo.html.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.

See Also: Different Options Trading Strategies

Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.