Assenagon Asset Management S.A. Sells 76,969 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Assenagon Asset Management S.A. lessened its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 72.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,003 shares of the textile maker’s stock after selling 76,969 shares during the period. Assenagon Asset Management S.A.’s holdings in Steven Madden were worth $799,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP grew its position in shares of Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after acquiring an additional 1,110 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock valued at $176,000 after acquiring an additional 741 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Steven Madden in the 4th quarter valued at about $177,000. Mariner LLC grew its position in shares of Steven Madden by 7.2% in the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock valued at $202,000 after acquiring an additional 319 shares during the period. Finally, PharVision Advisers LLC bought a new position in shares of Steven Madden in the 4th quarter valued at about $226,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

SHOO stock opened at $23.25 on Thursday. The company has a 50 day simple moving average of $23.30 and a 200 day simple moving average of $31.78. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 10.02 and a beta of 1.12. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $551.38 million during the quarter, compared to analysts’ expectations of $557.81 million. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.61%. The ex-dividend date is Monday, June 9th. Steven Madden’s dividend payout ratio (DPR) is currently 36.21%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SHOO. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Steven Madden in a report on Wednesday, June 4th. UBS Group lifted their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Citigroup reduced their target price on shares of Steven Madden from $35.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd. Finally, Loop Capital reduced their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.50.

Steven Madden 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.