Russell Investments Group Ltd. reduced its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 85.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,204 shares of the textile maker’s stock after selling 52,490 shares during the period. Russell Investments Group Ltd.’s holdings in Steven Madden were worth $355,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in shares of Steven Madden by 15.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,823 shares of the textile maker’s stock worth $208,000 after buying an additional 765 shares during the last quarter. Tudor Investment Corp Et Al acquired a new position in shares of Steven Madden during the fourth quarter worth approximately $204,000. Parametrica Management Ltd acquired a new position in shares of Steven Madden during the first quarter worth approximately $250,000. Dimensional Fund Advisors LP boosted its position in shares of Steven Madden by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,517,039 shares of the textile maker’s stock worth $54,236,000 after buying an additional 51,730 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Steven Madden by 5.3% in the fourth quarter. State Street Corp now owns 1,335,937 shares of the textile maker’s stock worth $47,761,000 after buying an additional 67,187 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden, Ltd. (NASDAQ SHOO) opened at 39.00 on Monday. The company has a 50-day moving average of $38.44 and a 200-day moving average of $37.26. Steven Madden, Ltd. has a 52-week low of $32.30 and a 52-week high of $40.75. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 19.55 and a beta of 0.54.
Steven Madden (NASDAQ:SHOO) last issued its earnings results on Friday, April 21st. The textile maker reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.04. Steven Madden had a return on equity of 17.17% and a net margin of 8.17%. The firm had revenue of $366.40 million for the quarter, compared to analyst estimates of $359.52 million. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts expect that Steven Madden, Ltd. will post $2.19 EPS for the current year.
A number of equities analysts have recently commented on SHOO shares. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report 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 report on Wednesday, May 31st. Citigroup Inc. lifted their target price on shares of Steven Madden from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Finally, Susquehanna Bancshares Inc lifted their target price on shares of Steven Madden from $42.00 to $44.00 and gave the company a “positive” rating in a report on Tuesday, April 25th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $41.18.
In other Steven Madden news, Director Richard P. Randall sold 2,454 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $38.48, for a total value of $94,429.92. Following the sale, the director now directly owns 24,551 shares of the company’s stock, valued at $944,722.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Arvind Dharia sold 20,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 66,662 shares in the company, valued at $2,681,145.64. The disclosure for this sale can be found here. Insiders sold 125,194 shares of company stock worth $4,927,107 over the last ninety days. 2.20% of the stock is owned by corporate insiders.
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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