BlueCrest Capital Management Ltd Buys Shares of 66,970 Steven Madden, Ltd. (SHOO)
BlueCrest Capital Management Ltd bought a new position in Steven Madden, Ltd. (NASDAQ:SHOO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 66,970 shares of the textile maker’s stock, valued at approximately $2,675,000. BlueCrest Capital Management Ltd owned 0.11% of Steven Madden as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its stake in Steven Madden by 5.2% in the second quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock worth $60,144,000 after purchasing an additional 75,022 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in Steven Madden in the second quarter worth $1,416,000. Shelton Capital Management purchased a new stake in Steven Madden in the second quarter worth $214,000. Macquarie Group Ltd. increased its stake in Steven Madden by 16.2% in the second quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock worth $89,889,000 after purchasing an additional 314,205 shares during the period. Finally, Samlyn Capital LLC purchased a new stake in Steven Madden in the second quarter worth $7,820,000. Institutional investors and hedge funds own 91.32% of the company’s stock.
Steven Madden, Ltd. (SHOO) traded up 1.254% during trading on Tuesday, reaching $42.375. The company’s stock had a trading volume of 13,943 shares. The stock has a market capitalization of $2.51 billion, a PE ratio of 20.402 and a beta of 0.51. The stock has a 50 day moving average price of $42.10 and a 200 day moving average price of $39.76. Steven Madden, Ltd. has a 1-year low of $32.30 and a 1-year high of $43.80.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The company had revenue of $374.15 million for the quarter, compared to the consensus estimate of $355.22 million. During the same quarter in the prior year, the business earned $0.42 EPS. Steven Madden’s revenue was up 15.0% on a year-over-year basis. Analysts anticipate that Steven Madden, Ltd. will post $2.25 earnings per share for the current fiscal year.
A number of analysts have weighed in on SHOO shares. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, September 1st. ValuEngine upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Thursday, August 3rd. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Morgan Stanley increased their target price on Steven Madden from $38.00 to $41.50 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.96.
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Steven Madden Company Profile
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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