Rhumbline Advisers Buys 2,168 Shares of Steven Madden, Ltd. (SHOO)
Rhumbline Advisers increased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,076 shares of the textile maker’s stock after acquiring an additional 2,168 shares during the period. Rhumbline Advisers owned approximately 0.19% of Steven Madden worth $4,983,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Steven Madden during the third quarter worth $574,000. Municipal Employees Retirement System of Michigan boosted its position in Steven Madden by 57.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 20,080 shares of the textile maker’s stock worth $869,000 after purchasing an additional 7,360 shares in the last quarter. Sei Investments Co. boosted its position in Steven Madden by 14.4% during the third quarter. Sei Investments Co. now owns 112,602 shares of the textile maker’s stock worth $4,875,000 after purchasing an additional 14,134 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Steven Madden by 57.1% during the third quarter. BNP Paribas Arbitrage SA now owns 31,629 shares of the textile maker’s stock worth $1,370,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new stake in Steven Madden during the third quarter worth $579,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on SHOO shares. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 9th. B. Riley reiterated a “buy” rating and set a $47.00 target price on shares of Steven Madden in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Friday, August 18th. Finally, ValuEngine upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $44.71.
Steven Madden, Ltd. (SHOO) opened at $42.65 on Monday. Steven Madden, Ltd. has a 12-month low of $33.50 and a 12-month high of $44.40. The firm has a market capitalization of $2,520.75, a PE ratio of 19.04, a P/E/G ratio of 1.61 and a beta of 0.52.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The firm had revenue of $441.19 million for the quarter, compared to the consensus estimate of $441.03 million. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. analysts expect that Steven Madden, Ltd. will post 2.21 EPS for the current fiscal year.
In other Steven Madden news, President Amelia Varela sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the sale, the president now directly owns 113,007 shares in the company, valued at $4,834,439.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard P. Randall sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the sale, the director now owns 22,809 shares of the company’s stock, valued at $867,882.45. The disclosure for this sale can be found here. Corporate insiders own 2.06% of the company’s stock.
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About Steven Madden
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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