Steven Madden, Ltd. (SHOO) Given Average Rating of “Buy” by Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been given a consensus recommendation of “Buy” by the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $49.13.

A number of equities research analysts recently weighed in on SHOO shares. Zacks Investment Research upgraded Steven Madden from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Wedbush restated a “buy” rating and set a $53.00 price objective on shares of Steven Madden in a research report on Tuesday, December 19th. Jefferies Group set a $39.00 price objective on Steven Madden and gave the stock a “hold” rating in a research report on Tuesday, October 31st. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Finally, Susquehanna Bancshares restated a “buy” rating and set a $48.00 price objective on shares of Steven Madden in a research report on Monday, October 23rd.

In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the sale, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Awadhesh K. Sinha sold 6,500 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the sale, the chief operating officer now owns 63,383 shares in the company, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. Insiders sold a total of 34,000 shares of company stock worth $1,460,100 in the last quarter. Corporate insiders own 2.06% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC grew its position in shares of Steven Madden by 97.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,262 shares during the last quarter. Fortaleza Asset Management Inc. bought a new stake in shares of Steven Madden in the 3rd quarter valued at about $158,000. First Quadrant L P CA bought a new stake in shares of Steven Madden in the 3rd quarter valued at about $191,000. Public Employees Retirement System of Ohio grew its position in shares of Steven Madden by 9.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after buying an additional 415 shares during the last quarter. Finally, Worth Venture Partners LLC bought a new stake in shares of Steven Madden in the 3rd quarter valued at about $205,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Shares of Steven Madden (NASDAQ SHOO) opened at $44.95 on Friday. The firm has a market capitalization of $2,730.57, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.64 and a beta of 0.41. Steven Madden has a 52-week low of $33.53 and a 52-week high of $49.28.

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About Steven Madden

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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