Steven Madden Ltd. (NASDAQ:SHOO) shares traded down 5.4% during mid-day trading on Tuesday . The stock traded as low as $33.05 and last traded at $33.74, with a volume of 1,037,425 shares. The stock had previously closed at $35.65.

Several research analysts have issued reports on the company. B. Riley reiterated a “buy” rating and issued a $47.00 price objective on shares of Steven Madden in a research report on Monday, April 25th. Jefferies Group reiterated a “buy” rating on shares of Steven Madden in a research report on Sunday, April 24th. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, May 5th. Piper Jaffray Cos. reiterated a “hold” rating and issued a $34.00 price objective on shares of Steven Madden in a research report on Friday, July 29th. Finally, Telsey Advisory Group cut their price objective on Steven Madden from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $38.50.

The company has a market cap of $1.95 billion and a price-to-earnings ratio of 18.02. The company’s 50 day moving average price is $34.73 and its 200-day moving average price is $34.44.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $325.40 million for the quarter, compared to analyst estimates of $329.54 million. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, equities research analysts expect that Steven Madden Ltd. will post $1.97 EPS for the current year.

In related news, Director Rose Peabody Lynch sold 1,722 shares of the company’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $34.34, for a total transaction of $59,133.48. Following the transaction, the director now directly owns 6,994 shares of the company’s stock, valued at $240,173.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of hedge funds and institutional investors have bought and sold shares of SHOO. RS Investment Management Co. LLC raised its position in Steven Madden by 68.4% in the fourth quarter. RS Investment Management Co. LLC now owns 1,211,382 shares of the company’s stock valued at $36,608,000 after buying an additional 492,110 shares during the last quarter. Morgan Stanley raised its position in Steven Madden by 538.8% in the fourth quarter. Morgan Stanley now owns 379,668 shares of the company’s stock valued at $11,474,000 after buying an additional 320,233 shares during the last quarter. Fiduciary Management Associates LLC raised its position in Steven Madden by 26.8% in the fourth quarter. Fiduciary Management Associates LLC now owns 561,712 shares of the company’s stock valued at $16,975,000 after buying an additional 118,765 shares during the last quarter. Systematic Financial Management LP raised its position in Steven Madden by 39.4% in the fourth quarter. Systematic Financial Management LP now owns 276,549 shares of the company’s stock valued at $8,357,000 after buying an additional 78,172 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in Steven Madden by 9.3% in the fourth quarter. Schroder Investment Management Group now owns 804,993 shares of the company’s stock valued at $24,327,000 after buying an additional 68,593 shares during the last quarter.

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