Steven Madden , Ltd. (NASDAQ:SHOO) executive Lisa Keith, serving as the company's Executive Vice President, General Counsel, and Secretary, has recently sold a portion of her stock in the company. The transaction, which took place on March 14, 2024, involved Keith selling 2,400 shares of common stock at an average price of $41.7283 per share, totaling over $100,000.
The disclosed sale was executed in multiple transactions with prices ranging from $41.49 to $41.95. Following the sale, Keith's direct ownership in Steven Madden, Ltd. stands at 20,687 shares. The sale represents a routine transaction by a corporate insider and provides investors with a glimpse into executive stock trading activity.
Investors often monitor insider sales as they may offer insights into an executive's perspective on the company's current valuation and future prospects. It's worth noting that the reasons for insider sales can be varied and do not necessarily indicate a lack of confidence in the company.
Steven Madden, Ltd., known for its footwear and accessories, is headquartered in Long Island City, New York, and operates within the non-rubber footwear manufacturing industry. The company has a history of growth and innovation in the fashion sector.
As with all insider transactions, the details of the sale are publicly available and have been filed with the Securities and Exchange Commission. Interested parties can obtain full information regarding the breakdown of shares sold at each price point upon request.
InvestingPro Insights
Steven Madden, Ltd. (NASDAQ:SHOO) has shown resilience in the competitive fashion industry, with real-time data from InvestingPro reflecting a solid financial position. The company's market capitalization stands at approximately $3.08 billion, and it boasts a Price to Earnings (P/E) ratio of 16.83 based on the last twelve months as of Q4 2023. This P/E ratio is slightly below the industry average, indicating that the company's earnings may be undervalued by the market.
According to InvestingPro Tips, Steven Madden holds more cash than debt on its balance sheet, which provides financial flexibility and stability. Additionally, liquid assets exceed short-term obligations, suggesting the company is well-positioned to manage its short-term liabilities. These factors are particularly relevant for investors considering the recent insider sale, as they highlight the company's strong financial health despite a single executive's decision to sell shares.
Investors should also note the significant price uptick over the last six months, with the stock delivering a 33.42% return, signaling a positive market sentiment towards Steven Madden. This is further supported by the fact that analysts predict the company will be profitable this year and it has been profitable over the last twelve months.
For those looking to delve deeper into Steven Madden's financials and stock performance, InvestingPro offers additional insights. There are more InvestingPro Tips available, which can provide a more comprehensive analysis of the company's prospects. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and access these valuable tips to inform your investment decisions.
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