Karla Frieders, the Chief Merchandising Officer of Steven Madden , Ltd. (NASDAQ:SHOO), has recently sold a significant number of shares in the company. On June 3, 2024, Frieders sold 10,000 shares at a weighted average price of $44.9052, resulting in a total transaction value of approximately $449,052. The sales were executed in multiple transactions with prices ranging from $44.80 to $45.05.
This sale follows a transaction on June 1, where shares were withheld to satisfy tax obligations related to the vesting of restricted stock. In this transaction, 2,176 shares were withheld at a price of $44.45 per share, which amounted to a total of $96,723. It's noted that these shares were not sold on the market but were rather used to cover the tax liability associated with the vesting of restricted stock, as indicated in the footnotes of the SEC filing.
After these transactions, Frieders's remaining direct ownership in the company stands at 86,658 shares of common stock. The recent sales by the executive are part of the routine disclosures that corporate insiders are required to make when trading their own company's stock.
Investors often monitor such insider transactions for insights into executive sentiment about the company's prospects. However, these transactions can be influenced by a variety of personal financial considerations and do not necessarily indicate a change in the company's future performance or outlook.
Steven Madden, Ltd. is known for its fashion-forward footwear and accessories, and continues to be a significant player in the industry with its diverse brand portfolio. The company's stock is publicly traded on the NASDAQ, providing investors with the opportunity to participate in the company's financial journey.
InvestingPro Insights
Steven Madden, Ltd. (NASDAQ:SHOO) has been demonstrating a robust financial performance, as evidenced by the recent data from InvestingPro. With a market capitalization of $3.28 billion and a revenue growth of 19.09% in Q1 2023, the company is showcasing its capacity to expand in a competitive industry. The gross profit margin standing at 41.65% for the last twelve months as of Q1 2023 further underscores Steven Madden's efficiency in managing its production and sales processes.
Investors tracking insider transactions may find it noteworthy that Steven Madden's stock is trading near its 52-week high, with the price at the previous close at $44.45, just shy of the 52-week high mark. This could be indicative of the market's positive sentiment towards the company. Additionally, with a solid return on assets of 14.49% for the last twelve months, Steven Madden is demonstrating effective asset utilization, which could be a reassuring sign for potential and current investors.
In terms of forward-looking assessments, an InvestingPro Tip reveals that 5 analysts have revised their earnings upwards for the upcoming period, suggesting a favorable outlook on the company's profitability. Moreover, Steven Madden holds more cash than debt on its balance sheet, which is a strong indicator of financial stability.
For those interested in further insights and analysis, there are additional InvestingPro Tips available for Steven Madden, Ltd. at https://www.investing.com/pro/SHOO. These tips could provide investors with a more comprehensive understanding of the company's financial health and future prospects. To access these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.