Public Sector Pension Investment Board Acquires 35,779 Shares of Steven Madden, Ltd. $SHOO

Public Sector Pension Investment Board boosted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 14.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 283,370 shares of the textile maker’s stock after buying an additional 35,779 shares during the quarter. Public Sector Pension Investment Board’s holdings in Steven Madden were worth $9,487,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Steven Madden in the 3rd quarter worth $31,000. EverSource Wealth Advisors LLC grew its holdings in Steven Madden by 86.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after buying an additional 485 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Steven Madden by 616.8% in the third quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock worth $72,000 after purchasing an additional 1,838 shares during the last quarter. State of Wyoming increased its holdings in shares of Steven Madden by 117.3% in the 3rd quarter. State of Wyoming now owns 3,800 shares of the textile maker’s stock worth $127,000 after buying an additional 2,051 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Steven Madden by 172.2% during the third quarter. Nisa Investment Advisors LLC now owns 5,523 shares of the textile maker’s stock valued at $185,000 after purchasing an additional 3,494 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Down 0.1%

SHOO stock opened at $39.19 on Tuesday. The firm’s fifty day simple moving average is $42.83 and its 200-day simple moving average is $36.75. The company has a market capitalization of $2.85 billion, a P/E ratio of 49.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.08. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $46.88.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SHOO shares. Wall Street Zen raised shares of Steven Madden from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group reaffirmed a “neutral” rating and set a $43.00 target price on shares of Steven Madden in a research report on Tuesday, December 9th. BTIG Research reiterated a “buy” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Thursday, February 5th. Piper Sandler lifted their target price on Steven Madden from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.63.

Steven Madden Company Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.