First Trust Advisors LP increased its stake in Steven Madden Ltd. (NASDAQ:SHOO) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 27,099 shares of the company’s stock after buying an additional 275 shares during the period. First Trust Advisors LP’s holdings in Steven Madden were worth $926,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Steven Madden by 124.0% in the first quarter. BlackRock Inc. now owns 3,805 shares of the company’s stock valued at $140,000 after buying an additional 2,106 shares in the last quarter. Strs Ohio raised its position in shares of Steven Madden by 14.6% in the second quarter. Strs Ohio now owns 4,700 shares of the company’s stock valued at $160,000 after buying an additional 600 shares in the last quarter. Ken Stern & Associates Inc. raised its position in shares of Steven Madden by 2.1% in the second quarter. Ken Stern & Associates Inc. now owns 8,587 shares of the company’s stock valued at $294,000 after buying an additional 175 shares in the last quarter. Springbok Capital Management LLC bought a new position in shares of Steven Madden during the first quarter valued at about $333,000. Finally, Barclays PLC raised its position in shares of Steven Madden by 96.3% in the first quarter. Barclays PLC now owns 9,788 shares of the company’s stock valued at $362,000 after buying an additional 4,802 shares in the last quarter. 93.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Steven Madden Ltd. (NASDAQ:SHOO) traded down 2.13% during trading on Thursday, reaching $35.40. 174,790 shares of the company’s stock were exchanged. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 18.76 and a beta of 0.77. Steven Madden Ltd. has a 12 month low of $27.80 and a 12 month high of $38.76. The stock has a 50-day moving average price of $34.97 and a 200 day moving average price of $34.87.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. Steven Madden had a net margin of 8.02% and a return on equity of 16.36%. The firm had revenue of $325.40 million for the quarter, compared to analysts’ expectations of $329.54 million. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts forecast that Steven Madden Ltd. will post $1.99 EPS for the current year.
SHOO has been the topic of several research reports. Jefferies Group set a $40.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $42.00 price objective on shares of Steven Madden in a report on Wednesday, June 8th. Zacks Investment Research upgraded shares of Steven Madden from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 16th. BB&T Corp. restated a “hold” rating on shares of Steven Madden in a report on Saturday, June 11th. Finally, Piper Jaffray Cos. restated a “hold” rating and set a $34.00 price objective on shares of Steven Madden in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Steven Madden presently has a consensus rating of “Hold” and an average target price of $38.10.
In other news, Director Richard P. Randall sold 3,125 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $35.33, for a total transaction of $110,406.25. Following the sale, the director now owns 26,425 shares in the company, valued at approximately $933,595.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.
Steven Madden Company Profile