State of Wyoming Buys New Stake in Steven Madden, Ltd. $SHOO

State of Wyoming bought a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 11,643 shares of the textile maker’s stock, valued at approximately $521,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Steven Madden by 2.6% during the 2nd quarter. GAMMA Investing LLC now owns 9,984 shares of the textile maker’s stock worth $420,000 after acquiring an additional 257 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Steven Madden by 17.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,543 shares of the textile maker’s stock valued at $159,000 after purchasing an additional 516 shares in the last quarter. Abel Hall LLC increased its stake in shares of Steven Madden by 9.2% in the 3rd quarter. Abel Hall LLC now owns 6,320 shares of the textile maker’s stock valued at $283,000 after purchasing an additional 533 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Steven Madden by 16.6% in the 3rd quarter. Central Pacific Bank Trust Division now owns 4,492 shares of the textile maker’s stock valued at $201,000 after purchasing an additional 640 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Steven Madden in the 2nd quarter worth about $32,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Steven Madden

In other Steven Madden news, Director Arian Reed sold 1,250 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $48.76, for a total value of $60,950.00. Following the completion of the sale, the director owned 8,196 shares in the company, valued at approximately $399,636.96. This represents a 13.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mitchell Klipper sold 3,918 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total transaction of $190,179.72. Following the completion of the transaction, the director directly owned 32,555 shares in the company, valued at $1,580,219.70. This trade represents a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SHOO. Telsey Advisory Group raised their price objective on Steven Madden from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Williams Trading set a $56.00 price objective on Steven Madden in a research report on Monday, August 3rd. Piper Sandler set a $55.00 target price on Steven Madden and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings lowered Steven Madden from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. Finally, UBS Group reiterated a “neutral” rating and set a $45.00 target price (up from $40.00) on shares of Steven Madden in a research report on Friday, July 31st. One equities 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.30.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $43.53 on Tuesday. The company has a market cap of $3.19 billion, a P/E ratio of 21.87 and a beta of 1.17. Steven Madden, Ltd. has a twelve month low of $31.33 and a twelve month high of $49.70. The company’s 50-day moving average price is $43.93 and its 200-day moving average price is $41.44. The company has a current ratio of 1.91, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13.

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.