Y Intercept Hong Kong Ltd Makes New $831,000 Investment in Steven Madden, Ltd. (NASDAQ:SHOO)

Y Intercept Hong Kong Ltd acquired a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,542 shares of the textile maker's stock, valued at approximately $831,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOO. Gladius Capital Management LP purchased a new stake in Steven Madden during the third quarter valued at about $36,000. R Squared Ltd purchased a new position in shares of Steven Madden during the fourth quarter worth approximately $55,000. Blue Trust Inc. raised its stake in shares of Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker's stock worth $79,000 after acquiring an additional 785 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock valued at $94,000 after purchasing an additional 1,872 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker's stock valued at $108,000 after purchasing an additional 561 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Price Performance

NASDAQ SHOO traded down $2.34 during trading hours on Monday, reaching $30.46. 1,239,341 shares of the company's stock traded hands, compared to its average volume of 841,846. Steven Madden, Ltd. has a 52-week low of $30.45 and a 52-week high of $50.01. The firm has a 50-day simple moving average of $40.07 and a 200 day simple moving average of $43.50. The firm has a market cap of $2.20 billion, a PE ratio of 12.96 and a beta of 1.07.

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Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.76%. Steven Madden's payout ratio is 35.74%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SHOO shares. StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Telsey Advisory Group lowered their price target on Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a research report on Thursday. Piper Sandler reduced their target price on Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Loop Capital decreased their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday. Finally, Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Steven Madden presently has a consensus rating of "Hold" and an average target price of $40.33.

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.