Steven Madden director sells shares worth over $17k By Investing.com

Steven Madden , Ltd. (NASDAQ:) director Peter Allan Davis has recently sold a portion of his holdings in the company. The transaction involved the sale of 400 shares of common stock at an average price of $43.2929, totaling over $17,317. The shares were sold on May 29, 2024, with prices ranging from $43.2905 to $43.3150.

Following the sale, Davis’s ownership in Steven Madden stands at 8,257 shares of common stock. The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission. The company, known for its footwear and fashion accessories, has not made any official statement regarding this sale.

Investors often keep an eye on insider transactions as they can provide insights into the company’s performance and the confidence level of its executives and directors. The sale by Davis comes without any accompanying news from the company that might explain the decision to reduce his position.

Steven Madden, based in Long Island City, New York, has been a staple in the fashion industry, particularly known for its trendy shoes and accessories. The company has a broad presence in retail and wholesale channels, and its stock performance is closely watched by investors interested in the consumer goods sector.

For further details on the transaction, interested parties can refer to the full filing available on the Securities and Exchange Commission’s website.

InvestingPro Insights

Steven Madden, Ltd. (NASDAQ:SHOO) has recently been in the spotlight due to insider trading activity, but what does the broader financial picture look like for the company? According to InvestingPro data, Steven Madden boasts a market capitalization of $3.16 billion and a Price/Earnings (P/E) ratio of 17.6, which adjusts to 16.98 when looking at the last twelve months as of Q1 2024. This P/E ratio indicates a company trading at a multiple that reflects investor confidence in future earnings.

One InvestingPro Tip to consider is that Steven Madden holds more cash than debt on its balance sheet, providing a solid financial footing for the company. Additionally, analysts are optimistic about the company’s performance, with five analysts having revised their earnings upwards for the upcoming period. This could signal underlying business strength and potential for future growth, which might be a factor in the decision-making process of investors and insiders alike.

In terms of stock stability, Steven Madden is known to trade with low price volatility, suggesting that the stock is less susceptible to wide price swings in the market compared to its peers. This could be appealing for investors looking for a stable investment in the consumer goods sector.

For those interested in deeper analysis, there are more InvestingPro Tips available that discuss the company’s valuation metrics, profitability, and stock performance trends. Utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, which includes a total of 7 InvestingPro Tips for Steven Madden, Ltd.

The recent insider transaction may raise questions, but the broader financial metrics and analyst sentiment suggest a company that is navigating its market with a degree of fiscal prudence and strategic growth potential.

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