Steven Madden, Ltd. (SHOO) Shares Sold by Alps Advisors Inc.
Alps Advisors Inc. lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,255 shares of the textile maker’s stock after selling 2,113 shares during the quarter. Alps Advisors Inc.’s holdings in Steven Madden were worth $526,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Fortaleza Asset Management Inc. purchased a new position in Steven Madden during the 3rd quarter valued at about $158,000. First Quadrant L P CA purchased a new position in Steven Madden during the 3rd quarter valued at about $191,000. Public Employees Retirement System of Ohio increased its holdings in Steven Madden by 9.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after purchasing an additional 415 shares during the period. Worth Venture Partners LLC purchased a new position in Steven Madden during the 3rd quarter valued at about $205,000. Finally, Shelton Capital Management purchased a new position in shares of Steven Madden during the 2nd quarter worth approximately $214,000. Institutional investors own 93.12% of the company’s stock.
A number of research analysts have weighed in on SHOO shares. Piper Jaffray Companies set a $51.00 target price on Steven Madden and gave the stock a “buy” rating in a report on Monday, January 8th. Wells Fargo & Co set a $46.00 target price on Steven Madden and gave the stock a “hold” rating in a report on Thursday, January 11th. Citigroup reiterated a “buy” rating and set a $56.00 target price on shares of Steven Madden in a report on Tuesday, January 16th. Susquehanna Bancshares reiterated a “buy” rating and set a $48.00 target price on shares of Steven Madden in a report on Tuesday, November 7th. Finally, Zacks Investment Research downgraded Steven Madden from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $49.13.
Shares of Steven Madden, Ltd. (NASDAQ SHOO) opened at $42.75 on Tuesday. The firm has a market capitalization of $2,523.71, a P/E ratio of 20.26, a P/E/G ratio of 1.52 and a beta of 0.41. Steven Madden, Ltd. has a 52 week low of $35.55 and a 52 week high of $49.28.
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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