Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,256 shares of the textile maker’s stock, valued at approximately $574,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Amalgamated Bank boosted its holdings in Steven Madden by 0.4% during the second quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock worth $324,000 after purchasing an additional 32 shares during the last quarter. Jennison Associates LLC boosted its holdings in Steven Madden by 0.4% during the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock worth $473,000 after purchasing an additional 44 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in Steven Madden by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after purchasing an additional 60 shares during the last quarter. CS Mckee LP lifted its stake in Steven Madden by 0.5% in the second quarter. CS Mckee LP now owns 22,175 shares of the textile maker’s stock valued at $886,000 after acquiring an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Steven Madden by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 19,118 shares of the textile maker’s stock valued at $763,000 after acquiring an additional 189 shares during the last quarter. Institutional investors and hedge funds own 92.99% of the company’s stock.

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) opened at $42.65 on Friday. The stock has a market cap of $2,526.67, a PE ratio of 19.08, a PEG ratio of 1.61 and a beta of 0.51. Steven Madden, Ltd. has a 12 month low of $33.50 and a 12 month high of $44.40.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. The company had revenue of $441.19 million during the quarter, compared to analysts’ expectations of $441.03 million. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. Steven Madden’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. equities research analysts forecast that Steven Madden, Ltd. will post 2.21 earnings per share for the current year.

SHOO has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Steven Madden from $38.00 to $41.50 and gave the company an “equal weight” rating in a research note on Monday, August 7th. 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $45.00 price target (up previously from $41.00) on shares of Steven Madden in a research note on Tuesday, August 8th. Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, BidaskClub upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $44.71.

In other news, President Amelia Varela sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the sale, the president now owns 113,007 shares in the company, valued at approximately $4,834,439.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard P. Randall sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total transaction of $76,100.00. Following the sale, the director now owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.

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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.

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

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