Royce & Associates LP Buys 83,552 Shares of Steven Madden, Ltd. (SHOO)
Royce & Associates LP increased its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 14.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 667,480 shares of the textile maker’s stock after buying an additional 83,552 shares during the period. Royce & Associates LP owned about 1.21% of Steven Madden worth $26,666,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of SHOO. Elkfork Partners LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock valued at $103,000 after buying an additional 396 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock valued at $117,000 after buying an additional 1,424 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Steven Madden during the second quarter valued at about $127,000. Meadow Creek Investment Management LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock valued at $131,000 after buying an additional 504 shares during the period. Finally, First Mercantile Trust Co. boosted its stake in shares of Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 91.37% of the company’s stock.
Steven Madden, Ltd. (NASDAQ:SHOO) opened at 41.70 on Monday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 20.08 and a beta of 0.53. The firm’s 50-day moving average is $40.81 and its 200 day moving average is $38.60. Steven Madden, Ltd. has a 12 month low of $32.30 and a 12 month high of $43.80.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The business had revenue of $374.15 million during the quarter, compared to analyst estimates of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, analysts expect that Steven Madden, Ltd. will post $2.25 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $45.00 price target (up from $41.00) on shares of Steven Madden in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Friday, August 18th. B. Riley reiterated a “buy” rating and issued a $47.00 price target on shares of Steven Madden in a research note on Tuesday, August 8th. Morgan Stanley boosted their price target on Steven Madden from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 6th. Finally, BidaskClub cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Steven Madden presently has an average rating of “Buy” and an average price target of $43.79.
In other Steven Madden news, President Amelia Varela sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $39.51, for a total value of $987,750.00. Following the completion of the transaction, the president now directly owns 89,099 shares in the company, valued at $3,520,301.49. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Karla Frieders sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $38.61, for a total transaction of $193,050.00. Following the completion of the transaction, the insider now owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,740 shares of company stock valued at $4,832,677. Company insiders own 2.06% of the company’s stock.
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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