Steven Madden Ltd. (NASDAQ:SHOO) gapped down before the market opened on Friday . The stock had previously closed at $35.24, but opened at $35.27. Steven Madden shares last traded at $35.78, with a volume of 322,648 shares.

Several equities research analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and set a $47.00 target price on shares of Steven Madden in a research note on Wednesday, April 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $42.00 target price on shares of Steven Madden in a research note on Wednesday, April 20th. Sterne Agee CRT reaffirmed a “buy” rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, April 22nd. Piper Jaffray Cos. reiterated a “hold” rating and set a $36.00 price target on shares of Steven Madden in a report on Friday, April 22nd. Finally, Buckingham Research lowered Steven Madden from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $36.00 in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $38.82.

The stock’s 50 day moving average is $34.79 and its 200 day moving average is $34.62. The company has a market cap of $2.22 billion and a PE ratio of 19.18.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The business earned $325.40 million during the quarter, compared to analysts’ expectations of $329.54 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Equities research analysts predict that Steven Madden Ltd. will post $1.99 earnings per share for the current year.

In other Steven Madden 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 value of $59,133.48. Following the sale, the director now owns 6,994 shares of the company’s stock, valued at $240,173.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of hedge funds have recently bought and sold shares of SHOO. RS Investment Management Co. LLC raised its stake 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 period. Schroder Investment Management Group raised its stake 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 period. Fiduciary Management Associates LLC raised its stake 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 period. Principal Financial Group Inc. raised its stake in Steven Madden by 4.7% in the fourth quarter. Principal Financial Group Inc. now owns 382,556 shares of the company’s stock valued at $11,561,000 after buying an additional 17,050 shares during the period. Finally, Morgan Stanley raised its stake 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 period.

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