Steven Madden Ltd. (NASDAQ:SHOO) shares 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 trading hands.

A number of research firms recently weighed in on SHOO. B. Riley reaffirmed a “buy” rating and set a $47.00 price objective on shares of Steven Madden in a research report on Wednesday, April 20th. Canaccord Genuity reissued a “buy” rating and issued a $42.00 target price on shares of Steven Madden in a report on Wednesday, April 20th. Sterne Agee CRT reissued a “buy” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, April 22nd. Piper Jaffray Cos. reissued a “hold” rating and issued a $36.00 target price 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 target price for the stock from $40.00 to $36.00 in a report on Monday, July 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Steven Madden presently has an average rating of “Hold” and a consensus price target of $38.82.

The company has a market cap of $2.22 billion and a P/E ratio of 19.18. The firm’s 50-day moving average is $34.79 and its 200-day moving average is $34.62.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $325.40 million for the quarter, compared to analysts’ expectations of $329.54 million. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Analysts anticipate that Steven Madden Ltd. will post $1.99 EPS for the current fiscal 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 transaction of $59,133.48. Following the completion of the sale, the director now owns 6,994 shares in the company, valued at $240,173.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

A number of hedge funds recently bought and sold shares of SHOO. US Bancorp DE raised its stake in Steven Madden by 24.9% in the fourth quarter. US Bancorp DE now owns 40,560 shares of the company’s stock worth $1,226,000 after buying an additional 8,074 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Steven Madden during the fourth quarter worth about $1,892,000. Systematic Financial Management LP increased its position in shares of Steven Madden by 39.4% in the fourth quarter. Systematic Financial Management LP now owns 276,549 shares of the company’s stock worth $8,357,000 after buying an additional 78,172 shares during the last quarter. Morgan Stanley increased its position in shares of Steven Madden by 538.8% in the fourth quarter. Morgan Stanley now owns 379,668 shares of the company’s stock worth $11,474,000 after buying an additional 320,233 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Steven Madden by 4.7% in the fourth quarter. Principal Financial Group Inc. now owns 382,556 shares of the company’s stock worth $11,561,000 after buying an additional 17,050 shares during the last quarter.

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