Invictus RG Invests $302,000 in Steven Madden, Ltd. (SHOO)

Invictus RG purchased a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,975 shares of the textile maker’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stifel Financial Corp lifted its position in shares of Steven Madden by 7.1% during the third quarter. Stifel Financial Corp now owns 244,585 shares of the textile maker’s stock worth $10,630,000 after purchasing an additional 16,131 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Steven Madden by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock worth $73,248,000 after acquiring an additional 37,264 shares during the period. Moody Aldrich Partners LLC raised its stake in Steven Madden by 15.2% during the third quarter. Moody Aldrich Partners LLC now owns 27,180 shares of the textile maker’s stock worth $1,177,000 after acquiring an additional 3,590 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Steven Madden by 7.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 411,486 shares of the textile maker’s stock worth $17,818,000 after acquiring an additional 26,856 shares during the period. Finally, Neumeier Poma Investment Counsel LLC raised its stake in Steven Madden by 24.9% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 711,908 shares of the textile maker’s stock worth $30,826,000 after acquiring an additional 141,705 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

SHOO has been the topic of several research reports. Susquehanna Bancshares reiterated a “buy” rating and set a $48.00 price objective on shares of Steven Madden in a research note on Monday, October 23rd. Zacks Investment Research lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Canaccord Genuity set a $47.00 price objective on shares of Steven Madden and gave the company a “buy” rating in a research note on Tuesday, August 15th. ValuEngine lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Buckingham Research lowered their price objective on shares of Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $45.41.

In other news, Director Richard P. Randall sold 2,000 shares of Steven Madden stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the sale, the director now directly owns 22,809 shares in the company, valued at approximately $867,882.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the sale, the president now owns 113,007 shares in the company, valued at $4,834,439.46. The disclosure for this sale can be found here. Insiders sold a total of 27,500 shares of company stock worth $1,167,405 in the last quarter. Insiders own 2.06% of the company’s stock.

Steven Madden, Ltd. (SHOO) opened at $43.85 on Thursday. The firm has a market cap of $2,573.95, a price-to-earnings ratio of 19.44, a PEG ratio of 1.64 and a beta of 0.52. Steven Madden, Ltd. has a twelve month low of $33.50 and a twelve month high of $44.40.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $441.19 million for the quarter, compared to the consensus estimate of $441.03 million. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. Steven Madden’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. equities analysts forecast that Steven Madden, Ltd. will post 2.21 earnings per share for the current year.

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Steven Madden Company Profile

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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