Connor Clark & Lunn Investment Management Ltd. bought a new stake in Steven Madden, Ltd. (NASDAQ:SHOO – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,710 shares of the textile maker’s stock, valued at approximately $566,000.
Several other hedge funds have also bought and sold shares of SHOO. Exchange Traded Concepts LLC acquired a new stake in Steven Madden in the 1st quarter valued at about $33,000. Industrial Alliance Investment Management Inc. lifted its stake in Steven Madden by 312.3% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 1,168 shares during the last quarter. Gladius Capital Management LP lifted its stake in Steven Madden by 14.6% in the 1st quarter. Gladius Capital Management LP now owns 2,471 shares of the textile maker’s stock valued at $89,000 after purchasing an additional 314 shares during the last quarter. Strs Ohio lifted its stake in Steven Madden by 108.3% in the 1st quarter. Strs Ohio now owns 2,500 shares of the textile maker’s stock valued at $90,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Steven Madden by 173.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,103 shares of the textile maker’s stock valued at $112,000 after purchasing an additional 1,967 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have weighed in on SHOO shares. Citigroup increased their price target on shares of Steven Madden from $40.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Telsey Advisory Group reissued a “market perform” rating and issued a $39.00 price target on shares of Steven Madden in a report on Thursday, August 3rd. UBS Group increased their price target on shares of Steven Madden from $35.00 to $37.00 in a report on Thursday, August 3rd. Finally, StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.60.
Steven Madden Trading Down 1.8 %
NASDAQ SHOO opened at $33.53 on Friday. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 15.60 and a beta of 1.13. The firm’s 50 day simple moving average is $33.48 and its 200 day simple moving average is $33.95. Steven Madden, Ltd. has a 1 year low of $26.36 and a 1 year high of $37.85.
Steven Madden (NASDAQ:SHOO – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The textile maker reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $442.84 million for the quarter, compared to analyst estimates of $454.24 million. Steven Madden had a return on equity of 19.87% and a net margin of 8.50%. On average, equities research analysts forecast that Steven Madden, Ltd. will post 2.47 earnings per share for the current year.
Steven Madden Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.51%. Steven Madden’s dividend payout ratio is 39.07%.
Insider Buying and Selling
In other Steven Madden news, Director Peter Migliorini sold 3,989 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $34.54, for a total value of $137,780.06. Following the sale, the director now owns 16,100 shares in the company, valued at $556,094. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Steven Madden news, insider Karla Frieders sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $34.15, for a total value of $170,750.00. Following the sale, the insider now owns 120,542 shares in the company, valued at $4,116,509.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Migliorini sold 3,989 shares of Steven Madden stock in a transaction on Monday, August 14th. The stock was sold at an average price of $34.54, for a total transaction of $137,780.06. Following the transaction, the director now owns 16,100 shares in the company, valued at approximately $556,094. The disclosure for this sale can be found here. 2.01% of the stock is currently owned by company insiders.
About Steven Madden
Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, First Cost, and Licensing segments.
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