Steven Madden (NASDAQ:SHOO) Lowered to Hold at StockNews.com

Steven Madden (NASDAQ:SHOO - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Tuesday.

A number of other research firms also recently weighed in on SHOO. Wedbush reissued a "neutral" rating and issued a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Telsey Advisory Group reissued a "market perform" rating and issued a $44.00 target price on shares of Steven Madden in a research note on Wednesday, July 31st. BTIG Research boosted their target price on Steven Madden from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, June 6th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $45.00 price target on shares of Steven Madden in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Steven Madden presently has a consensus rating of "Hold" and an average target price of $44.29.

Steven Madden Stock Down 1.6 %

SHOO stock traded down $0.70 during midday trading on Tuesday, reaching $44.46. The stock had a trading volume of 371,613 shares, compared to its average volume of 718,546. Steven Madden has a twelve month low of $30.35 and a twelve month high of $47.24. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 18.37 and a beta of 1.09. The business has a fifty day simple moving average of $43.45 and a two-hundred day simple moving average of $42.47.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The company had revenue of $523.60 million during the quarter, compared to analysts' expectations of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. During the same quarter in the previous year, the company earned $0.47 EPS. Steven Madden's revenue was up 17.6% on a year-over-year basis. On average, equities analysts predict that Steven Madden will post 2.62 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Karla Frieders sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the completion of the transaction, the insider now owns 86,658 shares in the company, valued at $3,891,810.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the completion of the transaction, the director now directly owns 21,303 shares in the company, valued at $946,066.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Karla Frieders sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the completion of the sale, the insider now owns 86,658 shares in the company, valued at approximately $3,891,810.78. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock worth $651,586 in the last 90 days. Corporate insiders own 2.08% of the company's stock.

Hedge Funds Weigh In On Steven Madden

Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Steven Madden in the 4th quarter valued at $19,846,000. Ranger Investment Management L.P. raised its holdings in Steven Madden by 36.8% during the fourth quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker's stock worth $23,560,000 after acquiring an additional 150,852 shares in the last quarter. Capital Research Global Investors boosted its position in Steven Madden by 8.6% during the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker's stock valued at $78,472,000 after purchasing an additional 146,324 shares during the last quarter. Edgestream Partners L.P. bought a new position in Steven Madden in the first quarter valued at approximately $5,834,000. Finally, Victory Capital Management Inc. increased its position in shares of Steven Madden by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker's stock worth $61,151,000 after purchasing an additional 136,171 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

About Steven Madden

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.

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