Kornitzer Capital Management Inc. KS Sells 1,820 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Kornitzer Capital Management Inc. KS lowered its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,943 shares of the textile maker’s stock after selling 1,820 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.10% of Steven Madden worth $3,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of Steven Madden by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 121,138 shares of the textile maker’s stock worth $4,113,000 after acquiring an additional 540 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its holdings in shares of Steven Madden by 3.1% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 773,932 shares of the textile maker’s stock worth $26,275,000 after acquiring an additional 22,978 shares during the period. Moody Aldrich Partners LLC lifted its holdings in shares of Steven Madden by 2.7% during the 2nd quarter. Moody Aldrich Partners LLC now owns 182,897 shares of the textile maker’s stock worth $6,209,000 after acquiring an additional 4,864 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Steven Madden by 53.9% during the 2nd quarter. SG Americas Securities LLC now owns 22,648 shares of the textile maker’s stock worth $769,000 after acquiring an additional 7,929 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Steven Madden by 3.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 83,959 shares of the textile maker’s stock worth $2,850,000 after acquiring an additional 2,420 shares during the period. 96.53% of the stock is owned by hedge funds and other institutional investors.

In other Steven Madden news, CFO Arvind Dharia sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $36.30, for a total value of $272,250.00. Following the transaction, the chief financial officer now directly owns 102,107 shares of the company’s stock, valued at $3,706,484.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Migliorini sold 3,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.17, for a total transaction of $108,510.00. Following the completion of the transaction, the director now directly owns 11,204 shares in the company, valued at $405,248.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,336 shares of company stock worth $5,615,559. 1.96% of the stock is owned by insiders.

SHOO has been the subject of a number of research analyst reports. Citigroup set a $37.00 price objective on shares of Steven Madden and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research cut shares of Steven Madden from a “hold” rating to a “sell” rating and set a $43.00 price objective for the company. in a research report on Wednesday, October 30th. Loop Capital upped their price objective on shares of Steven Madden to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. B. Riley set a $42.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Telsey Advisory Group upped their price objective on shares of Steven Madden from $36.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Steven Madden has an average rating of “Hold” and an average price target of $40.00.

NASDAQ SHOO traded up $0.15 on Friday, hitting $43.18. The company’s stock had a trading volume of 993,700 shares, compared to its average volume of 611,615. The firm has a market cap of $3.63 billion, a PE ratio of 23.60, a PEG ratio of 3.67 and a beta of 0.82. Steven Madden, Ltd. has a 1-year low of $27.88 and a 1-year high of $43.91. The company’s 50-day moving average is $36.74 and its 200 day moving average is $33.70.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, October 29th. The textile maker reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The business had revenue of $497.31 million for the quarter, compared to analyst estimates of $487.18 million. Steven Madden had a net margin of 7.71% and a return on equity of 20.01%. Steven Madden’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, research analysts expect that Steven Madden, Ltd. will post 1.94 earnings per share for the current fiscal year.

Steven Madden Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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

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