Karp Capital Management Corp Invests $738,000 in Steven Madden, Ltd. (SHOO)
Karp Capital Management Corp acquired a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,151 shares of the textile maker’s stock, valued at approximately $738,000.
Several other institutional investors also recently made changes to their positions in the stock. Two Sigma Investments LP acquired a new stake in Steven Madden during the fourth quarter valued at $1,531,000. A.R.T. Advisors LLC acquired a new stake in Steven Madden during the fourth quarter valued at $457,000. Envestnet Asset Management Inc. boosted its stake in Steven Madden by 15.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,823 shares of the textile maker’s stock valued at $208,000 after buying an additional 765 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in Steven Madden during the fourth quarter valued at $625,000. Finally, New York State Teachers Retirement System boosted its stake in Steven Madden by 5.9% in the fourth quarter. New York State Teachers Retirement System now owns 64,622 shares of the textile maker’s stock valued at $2,310,000 after buying an additional 3,600 shares during the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.
Steven Madden, Ltd. (NASDAQ SHOO) opened at 38.60 on Friday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 19.35 and a beta of 0.39. The firm’s 50-day moving average price is $38.35 and its 200 day moving average price is $37.24. Steven Madden, Ltd. has a 52-week low of $32.14 and a 52-week high of $40.75.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Friday, April 21st. The textile maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Steven Madden had a return on equity of 17.17% and a net margin of 8.17%. The company had revenue of $366.40 million for the quarter, compared to the consensus estimate of $359.52 million. During the same quarter last year, the business posted $0.33 EPS. Steven Madden’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Steven Madden, Ltd. will post $2.19 EPS for the current year.
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SHOO has been the subject of several recent analyst reports. Piper Jaffray Companies upgraded Steven Madden from a “neutral” rating to an “overweight” rating and set a $41.00 target price for the company in a research note on Thursday, February 23rd. Citigroup Inc. restated a “focus list” rating on shares of Steven Madden in a research note on Tuesday, March 7th. Zacks Investment Research upgraded Steven Madden from a “sell” rating to a “hold” rating in a research note on Friday, March 3rd. Susquehanna Bancshares Inc boosted their target price on Steven Madden from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Tuesday, April 25th. Finally, Morgan Stanley boosted their target price on Steven Madden from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 6th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $41.00.
In other Steven Madden news, COO Awadhesh K. Sinha sold 10,500 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $40.00, for a total transaction of $420,000.00. Following the transaction, the chief operating officer now owns 66,683 shares of the company’s stock, valued at approximately $2,667,320. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Arvind Dharia sold 20,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $40.22, for a total value of $804,400.00. Following the transaction, the chief financial officer now directly owns 66,662 shares in the company, valued at approximately $2,681,145.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,194 shares of company stock worth $4,734,057. 2.20% of the stock is currently owned by company insiders.
Steven Madden Company Profile
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.
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