Steven Madden, Ltd. (NASDAQ:SHOO) Downgraded by BidaskClub
BidaskClub lowered shares of Steven Madden, Ltd. (NASDAQ:SHOO) from a buy rating to a hold rating in a research report released on Tuesday morning.
SHOO has been the topic of several other research reports. Zacks Investment Research upgraded shares of Steven Madden from a hold rating to a buy rating and set a $44.00 target price on the stock in a research note on Tuesday, June 27th. Piper Jaffray Companies set a $41.00 target price on shares of Steven Madden and gave the company a buy rating in a research note on Wednesday, May 31st. Citigroup Inc. boosted their target price on shares of Steven Madden from $44.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, April 25th. Morgan Stanley boosted their target price on shares of Steven Madden from $37.00 to $38.00 and gave the company an equal weight rating in a research note on Tuesday, June 6th. Finally, Canaccord Genuity boosted their target price on shares of Steven Madden from $45.00 to $46.00 and gave the company a buy rating in a research note on Monday, June 5th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $42.00.
Steven Madden (NASDAQ SHOO) traded down 0.24% during mid-day trading on Tuesday, hitting $41.50. 396,409 shares of the company were exchanged. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 20.80 and a beta of 0.54. Steven Madden has a 12-month low of $32.30 and a 12-month high of $41.95. The stock’s 50 day moving average is $39.31 and its 200-day moving average is $37.69.
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In related news, insider Karla Frieders sold 5,000 shares of Steven Madden stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the transaction, the insider now directly owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rose Peabody Lynch sold 2,240 shares of Steven Madden stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $39.32, for a total value of $88,076.80. Following the completion of the transaction, the director now directly owns 4,754 shares of the company’s stock, valued at $186,927.28. The disclosure for this sale can be found here. Insiders sold 122,740 shares of company stock valued at $4,832,677 over the last ninety days. 2.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in SHOO. BlackRock Inc. boosted its stake in shares of Steven Madden by 148,882.3% in the first quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock valued at $266,833,000 after buying an additional 6,917,070 shares in the last quarter. Norges Bank purchased a new stake in shares of Steven Madden during the fourth quarter valued at $26,293,000. Teachers Advisors LLC boosted its stake in shares of Steven Madden by 92.0% in the first quarter. Teachers Advisors LLC now owns 557,535 shares of the textile maker’s stock valued at $21,493,000 after buying an additional 267,183 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Steven Madden by 4.6% in the first quarter. Vanguard Group Inc. now owns 4,809,629 shares of the textile maker’s stock valued at $185,410,000 after buying an additional 211,878 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Steven Madden during the first quarter valued at $7,774,000. 91.03% of the stock is owned by hedge funds and other institutional investors.
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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