Investors Purchase High Volume of Call Options on Steven Madden (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) saw some unusual options trading on Monday. Investors bought 4,518 call options on the company. This is an increase of 465% compared to the typical volume of 800 call options.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Steven Madden by 3.7% during the 1st quarter. BlackRock Inc. now owns 12,446,465 shares of the textile maker’s stock worth $463,754,000 after acquiring an additional 447,529 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Steven Madden by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,096,571 shares of the textile maker’s stock valued at $354,306,000 after buying an additional 57,392 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Steven Madden by 0.5% in the 1st quarter. Alliancebernstein L.P. now owns 3,110,573 shares of the textile maker’s stock valued at $115,900,000 after buying an additional 16,569 shares during the last quarter. State Street Corp boosted its holdings in shares of Steven Madden by 1.9% in the 2nd quarter. State Street Corp now owns 2,595,129 shares of the textile maker’s stock valued at $113,563,000 after buying an additional 47,822 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of Steven Madden by 8.1% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 2,233,890 shares of the textile maker’s stock valued at $97,755,000 after buying an additional 166,764 shares during the last quarter. 93.05% of the stock is owned by institutional investors.

NASDAQ SHOO opened at $39.08 on Wednesday. The business has a 50 day simple moving average of $41.30 and a 200 day simple moving average of $40.68. Steven Madden has a 52-week low of $18.47 and a 52-week high of $45.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 2.66. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 43.42, a PEG ratio of 1.27 and a beta of 1.32.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, July 28th. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. The company had revenue of $397.89 million during the quarter, compared to analysts’ expectations of $369.04 million. Steven Madden had a net margin of 5.05% and a return on equity of 15.30%. On average, analysts predict that Steven Madden will post 2.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 27th. Stockholders of record on Friday, September 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. Steven Madden’s dividend payout ratio is currently 93.75%.

A number of brokerages have recently commented on SHOO. BTIG Research reaffirmed a “buy” rating and issued a $55.00 price target on shares of Steven Madden in a research note on Friday, June 18th. B. Riley upped their price target on Steven Madden from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Telsey Advisory Group upped their price target on Steven Madden from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, July 29th. TheStreet raised Steven Madden from a “c” rating to a “b-” rating in a research note on Wednesday, July 28th. Finally, Piper Sandler increased their target price on Steven Madden from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, July 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $42.11.

About Steven Madden

Steven Madden Ltd. engages in the design, marketing, and sale of fashion-forward footwear for women, men, and children. It operates through the following segments: Wholesale Footwear, Wholesale Accessories and Apparel, Retail, First Cost, and Licensing. The Wholesale Footwear segment includes branded and private label women’s, men’s, girl’s and children’s footwear.

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