GAMMA Investing LLC Acquires New Shares in Steven Madden, Ltd. (NASDAQ:SHOO)

GAMMA Investing LLC acquired a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the 4th quarter, Holdings Channel.com reports. The fund acquired 770 shares of the textile maker’s stock, valued at approximately $32,000.

A number of other hedge funds have also added to or reduced their stakes in SHOO. International Assets Investment Management LLC raised its stake in Steven Madden by 4,100.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after buying an additional 1,599 shares during the last quarter. Covestor Ltd raised its stake in Steven Madden by 32.9% during the 3rd quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock valued at $169,000 after buying an additional 1,316 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Steven Madden during the 4th quarter valued at $207,000. Vest Financial LLC purchased a new stake in Steven Madden during the 4th quarter valued at $238,000. Finally, O Shaughnessy Asset Management LLC raised its stake in Steven Madden by 5.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock valued at $240,000 after buying an additional 363 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SHOO. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research note on Friday, April 26th. Piper Sandler began coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They set a “neutral” rating and a $45.00 target price for the company. Citigroup boosted their target price on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Williams Trading restated a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Finally, Wedbush lifted their target price on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.38.

Insiders Place Their Bets

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now owns 697,038 shares in the company, valued at $28,920,106.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Zine Mazouzi sold 7,246 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $41.66, for a total value of $301,868.36. Following the sale, the chief financial officer now directly owns 68,785 shares in the company, valued at $2,865,583.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the transaction, the chief executive officer now owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. Insiders sold 59,346 shares of company stock worth $2,464,841 in the last three months. 2.08% of the stock is owned by company insiders.

Steven Madden Stock Performance

SHOO opened at $39.59 on Monday. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 16.36 and a beta of 1.15. The firm’s fifty day moving average is $41.05 and its 200 day moving average is $40.10. Steven Madden, Ltd. has a fifty-two week low of $29.92 and a fifty-two week high of $45.63.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. On average, equities research analysts predict that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.84 annualized dividend and a yield of 2.12%. Steven Madden’s payout ratio is 34.71%.

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.