Eagle Asset Management Inc. cut its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,479,292 shares of the textile maker’s stock after selling 18,198 shares during the period. Eagle Asset Management Inc. owned about 2.92% of Steven Madden worth $88,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOO. Arizona State Retirement System lifted its position in Steven Madden by 0.4% during the second quarter. Arizona State Retirement System now owns 121,138 shares of the textile maker’s stock valued at $4,113,000 after purchasing an additional 540 shares in the last quarter. Rothschild & Co. Asset Management US Inc. lifted its position in Steven Madden by 3.1% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 773,932 shares of the textile maker’s stock valued at $26,275,000 after purchasing an additional 22,978 shares in the last quarter. Moody Aldrich Partners LLC lifted its position in Steven Madden by 2.7% during the second quarter. Moody Aldrich Partners LLC now owns 182,897 shares of the textile maker’s stock valued at $6,209,000 after purchasing an additional 4,864 shares in the last quarter. SG Americas Securities LLC lifted its position in Steven Madden by 53.9% during the second quarter. SG Americas Securities LLC now owns 22,648 shares of the textile maker’s stock valued at $769,000 after purchasing an additional 7,929 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Steven Madden by 3.0% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 83,959 shares of the textile maker’s stock valued at $2,850,000 after purchasing an additional 2,420 shares in the last quarter. Institutional investors own 96.53% of the company’s stock.

In other news, CFO Arvind Dharia sold 7,500 shares of Steven Madden stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $36.30, for a total value of $272,250.00. Following the sale, the chief financial officer now directly owns 102,107 shares of the company’s stock, valued at $3,706,484.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Amelia Varela sold 80,000 shares of Steven Madden stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $41.54, for a total value of $3,323,200.00. Following the completion of the sale, the president now directly owns 231,276 shares in the company, valued at $9,607,205.04. The disclosure for this sale can be found here. Insiders sold 136,336 shares of company stock worth $5,615,559 over the last ninety days. Insiders own 1.96% of the company’s stock.

Shares of SHOO stock traded up $0.15 during trading hours on Friday, hitting $43.18. The stock had a trading volume of 993,700 shares, compared to its average volume of 611,615. Steven Madden, Ltd. has a one year low of $27.88 and a one year 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. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 3.67 and a beta of 0.82.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, October 29th. The textile maker reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. Steven Madden had a return on equity of 20.01% and a net margin of 7.71%. The firm had revenue of $497.31 million for the quarter, compared to analysts’ expectations of $487.18 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts forecast that Steven Madden, Ltd. will post 1.94 EPS for the current year.

Several equities analysts have recently commented on the company. Citigroup set a $37.00 price objective on Steven Madden and gave the company a “hold” rating in a research report on Wednesday, July 31st. B. Riley set a $42.00 price objective on Steven Madden and gave the company a “buy” rating in a research report on Friday, July 19th. Telsey Advisory Group boosted their price objective on Steven Madden from $36.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. ValuEngine downgraded Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.00.

About Steven Madden

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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Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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