Public Sector Pension Investment Board Increases Stock Position in Steven Madden, Ltd. $SHOO

Public Sector Pension Investment Board grew its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 14.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,370 shares of the textile maker’s stock after buying an additional 35,779 shares during the quarter. Public Sector Pension Investment Board owned 0.39% of Steven Madden worth $9,487,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 485 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Steven Madden during the third quarter valued at about $31,000. Parkside Financial Bank & Trust increased its holdings in Steven Madden by 616.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock worth $72,000 after acquiring an additional 1,838 shares during the period. State of Wyoming increased its holdings in shares of Steven Madden by 117.3% in the third quarter. State of Wyoming now owns 3,800 shares of the textile maker’s stock worth $127,000 after purchasing an additional 2,051 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Steven Madden by 172.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,523 shares of the textile maker’s stock valued at $185,000 after acquiring an additional 3,494 shares in the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Stock Performance

SHOO stock opened at $39.19 on Tuesday. Steven Madden, Ltd. has a 12-month low of $19.05 and a 12-month high of $46.88. The stock’s 50 day simple moving average is $42.83 and its 200 day simple moving average is $36.75. The company has a current ratio of 1.91, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $2.85 billion, a PE ratio of 49.61 and a beta of 1.11.

Analyst Ratings Changes

SHOO has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, February 4th. BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Thursday, February 5th. Telsey Advisory Group reissued an “outperform” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 5th. Wall Street Zen upgraded shares of Steven Madden from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Jefferies Financial Group lowered Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price for the company. in a research report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus target price of $43.63.

Steven Madden Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.