Steven Madden, Ltd. (NASDAQ:SHOO)’s share price traded down 6.7% during trading on Friday . The company traded as low as $29.86 and last traded at $30.01, 908,241 shares changed hands during trading. An increase of 55% from the average session volume of 587,332 shares. The stock had previously closed at $32.15.
A number of analysts recently commented on the company. Piper Jaffray Companies lowered Steven Madden from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $38.00 to $32.00 in a report on Tuesday, May 14th. Zacks Investment Research lowered Steven Madden from a “hold” rating to a “sell” rating and set a $35.00 price target on the stock. in a report on Thursday, July 18th. B. Riley set a $42.00 price target on Steven Madden and gave the stock a “buy” rating in a report on Friday, July 19th. BidaskClub upgraded Steven Madden from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $36.00 price target (down from $38.00) on shares of Steven Madden in a report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.80.
The stock has a market capitalization of $2.58 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.83 and a beta of 0.80. The company has a 50 day simple moving average of $32.01 and a 200-day simple moving average of $32.79.
In related news, Director Rose Peabody Lynch sold 3,390 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $32.17, for a total transaction of $109,056.30. Following the sale, the director now directly owns 8,469 shares in the company, valued at approximately $272,447.73. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.96% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. AlphaCrest Capital Management LLC bought a new stake in shares of Steven Madden during the 1st quarter valued at $640,000. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Steven Madden by 262.5% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 435,000 shares of the textile maker’s stock valued at $14,720,000 after purchasing an additional 315,000 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Steven Madden by 37.3% during the 1st quarter. State of Wisconsin Investment Board now owns 459,800 shares of the textile maker’s stock valued at $15,560,000 after purchasing an additional 124,800 shares during the period. Dimensional Fund Advisors LP grew its position in Steven Madden by 50.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,470,104 shares of the textile maker’s stock worth $74,745,000 after buying an additional 828,499 shares in the last quarter. Finally, Everence Capital Management Inc. grew its position in Steven Madden by 53.9% during the first quarter. Everence Capital Management Inc. now owns 11,935 shares of the textile maker’s stock worth $404,000 after buying an additional 4,180 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.
About Steven Madden (NASDAQ:SHOO)
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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