Russell Investments Group Ltd. Acquires 28,480 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Russell Investments Group Ltd. grew its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 27.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,338 shares of the textile maker’s stock after acquiring an additional 28,480 shares during the period. Russell Investments Group Ltd. owned 0.16% of Steven Madden worth $4,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new stake in shares of Steven Madden in the second quarter worth $12,004,000. SG Americas Securities LLC increased its stake in shares of Steven Madden by 53.9% in the second quarter. SG Americas Securities LLC now owns 22,648 shares of the textile maker’s stock worth $769,000 after purchasing an additional 7,929 shares in the last quarter. Aperio Group LLC increased its stake in shares of Steven Madden by 3.3% in the second quarter. Aperio Group LLC now owns 33,838 shares of the textile maker’s stock worth $1,149,000 after purchasing an additional 1,071 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Steven Madden by 126.6% in the third quarter. State of Alaska Department of Revenue now owns 60,224 shares of the textile maker’s stock worth $2,155,000 after purchasing an additional 33,643 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Steven Madden by 32.9% in the second quarter. JPMorgan Chase & Co. now owns 121,422 shares of the textile maker’s stock worth $4,053,000 after purchasing an additional 30,057 shares in the last quarter. Institutional investors and hedge funds own 97.45% of the company’s stock.

In related news, President Amelia Varela sold 6,400 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $44.19, for a total transaction of $282,816.00. Following the completion of the transaction, the president now directly owns 144,876 shares of the company’s stock, valued at $6,402,070.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders have sold 142,736 shares of company stock valued at $5,898,375 over the last ninety days. 1.96% of the stock is currently owned by corporate insiders.

SHOO opened at $44.28 on Tuesday. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 3.75 and a beta of 0.82. The company has a fifty day moving average of $38.28 and a 200 day moving average of $34.11. Steven Madden, Ltd. has a fifty-two week low of $27.88 and a fifty-two week high of $44.33.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, October 29th. The textile maker reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The company had revenue of $497.31 million during the quarter, compared to analysts’ expectations of $487.18 million. Steven Madden had a net margin of 7.71% and a return on equity of 20.01%. Steven Madden’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. On average, analysts anticipate that Steven Madden, Ltd. will post 1.94 earnings per share for the current year.

A number of analysts have recently issued reports on the stock. ValuEngine cut shares of Steven Madden from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. 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 note on Wednesday, October 30th. Citigroup set a $37.00 price objective on shares of Steven Madden and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Loop Capital raised their target price on shares of Steven Madden to $45.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $40.00.

Steven Madden Company 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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