Vise Technologies Inc. Purchases New Stake in Steven Madden, Ltd. $SHOO

Vise Technologies Inc. purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 654,499 shares of the textile maker’s stock, valued at approximately $29,302,000. Vise Technologies Inc. owned about 0.89% of Steven Madden as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Steven Madden by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker’s stock valued at $79,819,000 after buying an additional 99,066 shares during the period. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Steven Madden during the 2nd quarter worth about $49,890,563. Bank of America Corp DE boosted its holdings in Steven Madden by 4.9% during the first quarter. Bank of America Corp DE now owns 751,627 shares of the textile maker’s stock worth $25,495,000 after buying an additional 35,259 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in Steven Madden by 13.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 645,578 shares of the textile maker’s stock worth $28,903,000 after purchasing an additional 77,108 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Steven Madden in the second quarter worth $25,618,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Steven Madden

In other news, Director Mitchell S. Klipper sold 3,918 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total value of $190,179.72. Following the completion of the sale, the director owned 32,555 shares in the company, valued at approximately $1,580,219.70. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arian Reed sold 1,250 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $48.76, for a total transaction of $60,950.00. Following the sale, the director directly owned 8,196 shares in the company, valued at approximately $399,636.96. This trade represents a 13.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,086 shares of company stock valued at $440,212. Corporate insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHOO. Capital One Financial set a $60.00 price objective on shares of Steven Madden in a research note on Tuesday, September 8th. Williams Trading set a $56.00 price objective on Steven Madden in a report on Monday, August 3rd. UBS Group reiterated a “neutral” rating and set a $45.00 price objective (up from $40.00) on shares of Steven Madden in a report on Friday, July 31st. Zacks Research downgraded Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Telsey Advisory Group raised their target price on shares of Steven Madden from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.30.

Steven Madden Price Performance

SHOO opened at $43.50 on Friday. The firm has a market cap of $3.18 billion, a PE ratio of 21.86 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.91 and a quick ratio of 1.13. The stock has a 50-day moving average price of $43.98 and a 200-day moving average price of $41.46. Steven Madden, Ltd. has a 1 year low of $31.33 and a 1 year high of $49.70.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, July 30th. The textile maker reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.11. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%. The company had revenue of $665.87 million for the quarter, compared to analysts’ expectations of $635.39 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. Sell-side analysts predict that Steven Madden, Ltd. will post 2.15 earnings per share for the current fiscal year.

Steven Madden Profile

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.