Nicholas Investment Partners LP increased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,890 shares of the textile maker’s stock after acquiring an additional 3,831 shares during the period. Nicholas Investment Partners LP owned approximately 0.12% of Steven Madden worth $3,156,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Amalgamated Bank grew 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 acquiring an additional 32 shares during the period. Jennison Associates LLC grew its holdings in Steven Madden by 0.4% in the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after purchasing an additional 44 shares during the last quarter. First Mercantile Trust Co. grew its holdings in 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 purchasing an additional 60 shares during the last quarter. CS Mckee LP grew its holdings 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 purchasing an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings 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 purchasing an additional 189 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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

SHOO has been the topic of several research reports. BidaskClub raised Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the company a “buy” rating in a report on Wednesday, August 9th. B. Riley reissued a “buy” rating and issued a $47.00 target price on shares of Steven Madden in a report on Tuesday, August 8th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Friday, August 18th. Finally, ValuEngine raised Steven Madden from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Steven Madden currently has a consensus rating of “Buy” and an average target price of $44.88.

Shares of Steven Madden, Ltd. (SHOO) opened at $43.55 on Wednesday. Steven Madden, Ltd. has a 12-month low of $33.50 and a 12-month high of $44.40. The stock has a market capitalization of $2,579.86, a price-to-earnings ratio of 19.49, a PEG ratio of 1.65 and a beta of 0.52.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The business had revenue of $441.19 million for the quarter, compared to the consensus estimate of $441.03 million. During the same period in the prior year, the business earned $0.74 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. analysts forecast that Steven Madden, Ltd. will post 2.21 EPS for the current fiscal year.

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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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