Y Intercept Hong Kong Ltd Increases Stock Position in Steven Madden, Ltd. $SHOO

Y Intercept Hong Kong Ltd boosted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 196.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,603 shares of the textile maker’s stock after buying an additional 66,632 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.14% of Steven Madden worth $2,412,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its holdings in Steven Madden by 328.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 1,657 shares in the last quarter. CWM LLC raised its holdings in Steven Madden by 231.0% during the first quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock worth $61,000 after purchasing an additional 1,589 shares in the last quarter. Signaturefd LLC raised its holdings in Steven Madden by 475.5% during the second quarter. Signaturefd LLC now owns 2,492 shares of the textile maker’s stock worth $60,000 after purchasing an additional 2,059 shares in the last quarter. Covestor Ltd raised its holdings in Steven Madden by 22.9% during the first quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock worth $130,000 after purchasing an additional 915 shares in the last quarter. Finally, Gagnon Securities LLC acquired a new stake in Steven Madden during the first quarter worth approximately $140,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $34.34 on Friday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 27.04 and a beta of 1.22. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $46.99. The company’s fifty day moving average is $32.54 and its two-hundred day moving average is $27.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The company had revenue of $556.09 million for the quarter, compared to analysts’ expectations of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.Steven Madden’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Analysts Set New Price Targets

SHOO has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of Steven Madden from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Wall Street Zen downgraded Steven Madden from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Piper Sandler upgraded shares of Steven Madden from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $40.00 in a research report on Monday, September 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Steven Madden in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and a consensus target price of $37.50.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.