Steven Madden (NASDAQ:SHOO) Stock Crosses Above Fifty Day Moving Average - Time to Sell?

Key Points

• Steven Madden shares rose above their 50-day moving average, trading as high as $45.12 and last changing hands at $44.93, compared with a 50-day average of $44.02.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $52.30; recent targets range from $45 to $60.
• The company reported stronger-than-expected quarterly results, including EPS of $0.44 versus estimates of $0.33 and 19.1% year-over-year revenue growth. However, insiders sold 9,086 shares worth approximately $440,212 over the past 90 days.

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $44.02 and traded as high as $45.12. Steven Madden shares last traded at $44.93, with a volume of 1,198,133 shares trading hands.

Wall Street Analysts Forecast Growth

SHOO has been the topic of several recent research reports. Wall Street Zen upgraded shares of Steven Madden from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 17th. BMO Capital Markets started coverage on shares of Steven Madden in a research note on Tuesday, September 8th. They set an "outperform" rating and a $60.00 price objective for the company. BTIG Research restated a "buy" rating and issued a $55.00 price objective on shares of Steven Madden in a report on Tuesday. UBS Group reaffirmed a "neutral" rating and issued a $45.00 target price (up from $40.00) on shares of Steven Madden in a research report on Friday, July 31st. Finally, Williams Trading set a $56.00 target price on Steven Madden in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Steven Madden currently has a consensus rating of "Moderate Buy" and an average target price of $52.30.

Steven Madden Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.91. The stock's fifty day moving average price is $44.02 and its 200-day moving average price is $41.46. The company has a market capitalization of $3.29 billion, a P/E ratio of 22.58 and a beta of 1.17.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The textile maker reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%. The business had revenue of $665.87 million during the quarter, compared to analysts' expectations of $635.39 million. During the same quarter last year, the company posted $0.20 earnings per share. Steven Madden's quarterly revenue was up 19.1% on a year-over-year basis. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Arian Reed sold 1,250 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $48.76, for a total transaction of $60,950.00. Following the completion of the sale, the director directly owned 8,196 shares in the company, valued at approximately $399,636.96. This represents a 13.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell S. Klipper sold 3,918 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total value of $190,179.72. Following the completion of the transaction, the director owned 32,555 shares in the company, valued at $1,580,219.70. The trade was a 10.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,086 shares of company stock valued at $440,212 over the last 90 days. 2.21% of the stock is owned by corporate insiders.

Institutional Trading of Steven Madden

Large investors have recently made changes to their positions in the company. Neumeier Poma Investment Counsel LLC acquired a new position in Steven Madden during the 2nd quarter worth approximately $49,890,563. Vise Technologies Inc. acquired a new stake in Steven Madden in the third quarter valued at approximately $29,302,000. Bank of New York Mellon Corp bought a new stake in shares of Steven Madden during the second quarter worth $25,618,000. Dimensional Fund Advisors LP grew its stake in shares of Steven Madden by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker's stock worth $79,819,000 after buying an additional 99,066 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Steven Madden by 13.6% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 645,578 shares of the textile maker's stock worth $28,903,000 after buying an additional 77,108 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

About Steven Madden

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.

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