Y Intercept Hong Kong Ltd Grows Stock Position in Steven Madden, Ltd. $SHOO

Y Intercept Hong Kong Ltd increased its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 196.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 100,603 shares of the textile maker’s stock after purchasing an additional 66,632 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Steven Madden were worth $2,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Covestor Ltd boosted its position in shares of Steven Madden by 22.9% in the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock worth $130,000 after buying an additional 915 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Steven Madden by 17.5% in the 1st quarter. HighTower Advisors LLC now owns 7,567 shares of the textile maker’s stock worth $202,000 after buying an additional 1,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Steven Madden by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker’s stock worth $1,143,000 after buying an additional 1,437 shares in the last quarter. Vident Advisory LLC boosted its stake in shares of Steven Madden by 8.6% during the first quarter. Vident Advisory LLC now owns 18,748 shares of the textile maker’s stock valued at $499,000 after acquiring an additional 1,481 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Steven Madden by 231.0% during the first quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock valued at $61,000 after acquiring an additional 1,589 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SHOO. UBS Group upped their target price on shares of Steven Madden from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Wall Street Zen lowered shares of Steven Madden from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. BTIG Research upped their target price on shares of Steven Madden from $34.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a report on Wednesday, October 8th. Finally, Citigroup restated a “buy” rating and issued a $41.00 target price (up from $32.00) on shares of Steven Madden in a report on Friday, October 17th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Steven Madden has an average rating of “Hold” and a consensus target price of $37.50.

Steven Madden Trading Down 0.2%

Shares of SHOO stock opened at $34.34 on Friday. The firm has a market cap of $2.49 billion, a P/E ratio of 27.04 and a beta of 1.22. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $46.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13. The firm’s 50-day simple moving average is $32.54 and its 200-day simple moving average is $27.23.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). The company had revenue of $556.09 million for the quarter, compared to analysts’ expectations of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 earnings per share. As a group, equities analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.