In a recent transaction, Peter Migliorini, a board director at Steven Madden , Ltd. (NASDAQ:), received a restricted stock grant as part of the company’s incentive plan. The stock award, dated May 22, 2024, consisted of 2,906 shares of common stock. This transaction was reported in compliance with SEC regulations.
The shares granted to Migliorini are part of the Steven Madden, Ltd. 2019 Incentive Compensation Plan and are subject to vesting conditions. According to the terms outlined, the awarded shares will vest on May 20, 2025, and until then, they will be subject to forfeiture if certain conditions are not met. Following this transaction, Migliorini’s ownership in the company has increased to a total of 19,006 shares of common stock.
It’s important to note that the shares were granted at no cost to the director, reflecting the nature of restricted stock grants which are typically awarded to executives and directors as a form of incentive compensation. These grants are designed to align the interests of the company’s leadership with those of the shareholders by providing an incentive to enhance company performance.
Investors often keep a close eye on insider transactions as they can provide insights into the company’s performance and management’s expectations. The recent grant to Migliorini may be seen as a vote of confidence in the future of Steven Madden, Ltd., a leading designer and marketer of fashion footwear and accessories.
The transaction was formally documented with the SEC and signed off by Mike Lomenzo, Attorney-in-Fact for Peter Migliorini, on May 23, 2024.
InvestingPro Insights
Following the recent transaction involving board director Peter Migliorini, Steven Madden, Ltd. (NASDAQ:SHOO) continues to demonstrate financial stability and growth potential. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, which may provide a cushion against market volatility and enable strategic investments. Additionally, the company’s stock has been noted for its low price volatility, which could appeal to investors seeking a more stable equity amidst uncertain market conditions.
From a valuation standpoint, Steven Madden’s current P/E ratio stands at 16.82, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 16.18. This suggests a stable valuation relative to earnings. Moreover, analysts have revised their earnings upwards for the upcoming period, signaling optimism about the company’s financial prospects. The company’s revenue growth for the last twelve months as of Q1 2024 was a moderate 2.17%, while the quarterly revenue growth for Q1 2024 was a robust 19.09%, reflecting a positive business momentum.
Investors looking to delve deeper into Steven Madden’s financials and future outlook can find additional insights and metrics on InvestingPro. There are currently six more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/SHOO. Moreover, to enhance your investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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