Monarch Partners Asset Management LLC lessened its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,211 shares of the textile maker’s stock after selling 8,790 shares during the quarter. Monarch Partners Asset Management LLC owned 0.22% of Steven Madden worth $6,629,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC bought a new stake in shares of Steven Madden in the second quarter worth $12,004,000. SG Americas Securities LLC lifted its position in shares of Steven Madden by 53.9% in the second quarter. SG Americas Securities LLC now owns 22,648 shares of the textile maker’s stock worth $769,000 after purchasing an additional 7,929 shares in the last quarter. Aperio Group LLC lifted its position in shares of Steven Madden by 3.3% in the second quarter. Aperio Group LLC now owns 33,838 shares of the textile maker’s stock worth $1,149,000 after purchasing an additional 1,071 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Steven Madden by 126.6% in the third quarter. State of Alaska Department of Revenue now owns 60,224 shares of the textile maker’s stock worth $2,155,000 after purchasing an additional 33,643 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Steven Madden by 32.9% in the second quarter. JPMorgan Chase & Co. now owns 121,422 shares of the textile maker’s stock worth $4,053,000 after purchasing an additional 30,057 shares in the last quarter. 96.53% of the stock is currently owned by institutional investors and hedge funds.
In other Steven Madden news, President Amelia Varela sold 80,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $41.54, for a total value of $3,323,200.00. Following the transaction, the president now directly owns 231,276 shares in the company, valued at $9,607,205.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter Migliorini sold 3,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.17, for a total transaction of $108,510.00. Following the completion of the transaction, the director now owns 11,204 shares in the company, valued at $405,248.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,336 shares of company stock worth $5,615,559. 1.96% of the stock is owned by corporate insiders.
SHOO has been the topic of a number of research reports. Loop Capital boosted their price objective on shares of Steven Madden to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Zacks Investment Research lowered shares of Steven Madden from a “hold” rating to a “sell” rating and set a $43.00 price objective on the stock. in a research report on Wednesday, October 30th. Citigroup set a $37.00 price objective on shares of Steven Madden and gave the stock a “hold” rating in a research report on Wednesday, July 31st. B. Riley set a $42.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine downgraded shares of Steven Madden from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $40.00.
SHOO traded up $0.15 during trading on Friday, reaching $43.18. 993,700 shares of the stock were exchanged, compared to its average volume of 611,615. The stock has a market cap of $3.63 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 3.67 and a beta of 0.82. Steven Madden, Ltd. has a twelve month low of $27.88 and a twelve month high of $43.91. The stock’s 50 day moving average price is $36.57 and its two-hundred day moving average price is $33.65.
Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, October 29th. The textile maker reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. The business had revenue of $497.31 million for the quarter, compared to the consensus estimate of $487.18 million. Steven Madden had a net margin of 7.71% and a return on equity of 20.01%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities analysts anticipate that Steven Madden, Ltd. will post 1.94 EPS for the current year.
Steven Madden Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.
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