Piermont Capital Management Inc. Acquires 2,280 Shares of Steven Madden, Ltd. (SHOO)
Piermont Capital Management Inc. raised its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 9.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,824 shares of the company’s stock after buying an additional 2,280 shares during the period. Piermont Capital Management Inc.’s holdings in Steven Madden were worth $892,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in Steven Madden by 18.5% in the second quarter. Public Employees Retirement System of Ohio now owns 3,550 shares of the company’s stock valued at $121,000 after buying an additional 555 shares during the period. SG Americas Securities LLC acquired a new position in Steven Madden during the third quarter valued at about $217,000. PineBridge Investments L.P. raised its position in Steven Madden by 3.8% in the second quarter. PineBridge Investments L.P. now owns 7,057 shares of the company’s stock valued at $241,000 after buying an additional 261 shares during the period. Amalgamated Bank raised its position in Steven Madden by 19.0% in the second quarter. Amalgamated Bank now owns 7,055 shares of the company’s stock valued at $249,000 after buying an additional 1,124 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Steven Madden by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 7,889 shares of the company’s stock valued at $270,000 after buying an additional 952 shares during the period. Hedge funds and other institutional investors own 93.26% of the company’s stock.
Steven Madden, Ltd. (NASDAQ:SHOO) traded down 0.14% on Friday, hitting $35.80. 250,041 shares of the stock were exchanged. The stock has a market capitalization of $2.17 billion, a P/E ratio of 18.18 and a beta of 0.54. Steven Madden, Ltd. has a one year low of $27.80 and a one year high of $40.55. The company has a 50 day moving average of $37.52 and a 200 day moving average of $35.61.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The firm had revenue of $408.40 million for the quarter, compared to the consensus estimate of $404.58 million. Steven Madden had a net margin of 8.11% and a return on equity of 16.26%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. On average, equities research analysts forecast that Steven Madden, Ltd. will post $2.03 earnings per share for the current fiscal year.
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Several research firms have issued reports on SHOO. Jefferies Group restated a “buy” rating and issued a $40.00 price target on shares of Steven Madden in a research report on Thursday, November 3rd. B. Riley reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Steven Madden in a research note on Wednesday, November 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Steven Madden in a research note on Monday, October 31st. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Thursday, December 1st. Finally, Piper Jaffray Companies set a $33.00 price objective on shares of Steven Madden and gave the stock a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Steven Madden has an average rating of “Hold” and a consensus target price of $38.00.
In other Steven Madden news, President Amelia Varela sold 8,000 shares of Steven Madden stock in a transaction on Friday, November 11th. The shares were sold at an average price of $39.83, for a total transaction of $318,640.00. Following the transaction, the president now directly owns 161,409 shares of the company’s stock, valued at approximately $6,428,920.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karla Frieders sold 27,500 shares of Steven Madden stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $38.79, for a total transaction of $1,066,725.00. Following the transaction, the insider now directly owns 110,745 shares in the company, valued at $4,295,798.55. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
About Steven Madden
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