Edward Rosenfeld, the Chief Executive Officer of Steven Madden , Ltd. (NASDAQ:SHOO), has recently sold a substantial number of company shares, according to the latest filings with the Securities and Exchange Commission. The transactions, which took place on March 15, 2024, involved the sale of 48,500 shares at prices ranging from $41.075 to $41.95, culminating in a total of approximately $2,012,143.
The sale represents a significant move by Rosenfeld, who also acquired 81,672 shares of common stock on the same day as part of a restricted stock grant under the company's 2019 Incentive Compensation Plan. It's worth noting that these newly acquired shares will vest over a period extending to March 2029 and are subject to forfeiture under the plan's terms. Following these transactions, Rosenfeld's direct holdings in the company have adjusted to 697,038 shares.
Investors often keep a close eye on insider trades such as these for insights into executive sentiment about the company's future prospects. While Rosenfeld's sale may catch the attention of Steven Madden's investors, it's important to consider that insiders may sell shares for various reasons that do not necessarily reflect their outlook on the company's financial health.
In addition to Rosenfeld's direct holdings, the SEC filing also disclosed an indirect ownership of 234,000 shares by the Rosenfeld 2021 Family Trust. However, Rosenfeld has disclaimed beneficial ownership of these securities, and this report does not constitute an admission of beneficial ownership for any purposes.
The transactions come at a time when the footwear industry faces various challenges and opportunities. As the market continues to monitor Steven Madden's performance, the actions of its CEO will undoubtedly remain in focus for stakeholders and market analysts alike.
For further details on the transactions, the SEC filing indicates that full information regarding the number of shares sold at each separate price within the specified range can be provided upon request. This level of transparency provides investors with the necessary data to understand the context and details of these insider trades.
InvestingPro Insights
Steven Madden, Ltd. (NASDAQ:SHOO) has recently been in the spotlight due to insider trading activity by its CEO, Edward Rosenfeld. As investors digest this news, it is crucial to consider the company's financial health and performance metrics. Here are some insights based on real-time data from InvestingPro:
- The company's market capitalization stands at $3.02 billion, reflecting its overall market value as of the last trading session.
- Steven Madden's P/E ratio, a measure of its current share price relative to its per-share earnings, is 17.66, with an adjusted P/E ratio of 16.71 for the last twelve months as of Q4 2023.
- Despite a revenue decline of 6.62% over the last twelve months as of Q4 2023, the company experienced a quarterly revenue growth of 10.43% in Q1 2023, indicating a potential turnaround in sales.
Delving into the InvestingPro Tips for Steven Madden, it's noted that the company holds more cash than debt on its balance sheet, which is a positive sign for financial stability. Additionally, Steven Madden's liquid assets exceed its short-term obligations, providing further evidence of the company's solid liquidity position. These factors are particularly relevant in the context of the CEO's recent share sale, as they offer a broader perspective on the company's financial health.
For those interested in a deeper analysis, there are 5 more InvestingPro Tips available, including information on analyst predictions and the company's profitability. Subscribers can access these additional tips by visiting InvestingPro. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As the footwear industry navigates through its current challenges and opportunities, these InvestingPro insights can help investors make more informed decisions regarding Steven Madden's stock.
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