Kornitzer Capital Management Inc. KS increased its stake in shares of Steven Madden Ltd. (NASDAQ:SHOO) by 83.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 342,525 shares of the company’s stock after buying an additional 155,325 shares during the period. Kornitzer Capital Management Inc. KS owned 0.55% of Steven Madden worth $11,708,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. increased its position in shares of Steven Madden by 4.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,458,780 shares of the company’s stock valued at $54,033,000 after buying an additional 55,503 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Steven Madden by 2.7% in the first quarter. Prudential Financial Inc. now owns 162,605 shares of the company’s stock valued at $6,023,000 after buying an additional 4,269 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Steven Madden by 15.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 537,705 shares of the company’s stock valued at $18,379,000 after buying an additional 73,531 shares during the last quarter. Nicholas Investment Partners LP increased its position in shares of Steven Madden by 27.2% in the first quarter. Nicholas Investment Partners LP now owns 104,069 shares of the company’s stock valued at $3,855,000 after buying an additional 22,243 shares during the last quarter. Finally, State Street Corp increased its position in shares of Steven Madden by 0.9% in the first quarter. State Street Corp now owns 1,161,844 shares of the company’s stock valued at $43,032,000 after buying an additional 9,935 shares during the last quarter. Hedge funds and other institutional investors own 93.25% of the company’s stock.

Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

Steven Madden Ltd. (NASDAQ:SHOO) traded up 0.015% during midday trading on Friday, hitting $34.335. 239,154 shares of the stock traded hands. The stock has a market cap of $2.10 billion, a PE ratio of 18.196 and a beta of 0.77. The company has a 50-day moving average of $34.70 and a 200-day moving average of $34.81. Steven Madden Ltd. has a 12 month low of $27.80 and a 12 month high of $38.48.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Steven Madden had a return on equity of 16.36% and a net margin of 8.02%. The company had revenue of $325.40 million for the quarter, compared to analyst estimates of $329.54 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Steven Madden Ltd. will post $1.99 earnings per share for the current year.

SHOO has been the subject of several analyst reports. Canaccord Genuity restated a “buy” rating and set a $40.00 price target on shares of Steven Madden in a report on Sunday, September 11th. Zacks Investment Research raised Steven Madden from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Buckingham Research lowered Steven Madden from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $40.00 to $36.00 in a research report on Monday, July 18th. Susquehanna began coverage on shares of Steven Madden in a research note on Friday, August 12th. They set a “positive” rating and a $42.00 target price on the stock. Finally, Piper Jaffray Cos. restated a “hold” rating and set a $34.00 target price on shares of Steven Madden in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Steven Madden has an average rating of “Hold” and an average target price of $38.10.

In other Steven Madden news, Director Richard P. Randall sold 3,125 shares of Steven Madden stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $35.33, for a total value of $110,406.25. Following the transaction, the director now owns 26,425 shares in the company, valued at $933,595.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

About Steven Madden

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