RS Investment Management Co. LLC decreased its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 14.5% during the second quarter, Holdings Channel reports. The institutional investor owned 872,660 shares of the company’s stock after selling 148,501 shares during the period. RS Investment Management Co. LLC’s holdings in Steven Madden were worth $29,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOO. Norges Bank purchased a new stake in Steven Madden during the fourth quarter valued at $18,012,000. Wellington Management Group LLP raised its stake in Steven Madden by 8.7% in the first quarter. Wellington Management Group LLP now owns 3,530,549 shares of the company’s stock valued at $130,771,000 after buying an additional 281,907 shares during the last quarter. Palisade Capital Management LLC NJ purchased a new stake in Steven Madden during the first quarter valued at $7,890,000. BlackRock Institutional Trust Company N.A. raised its stake in Steven Madden by 4.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,458,780 shares of the company’s stock valued at $54,033,000 after buying an additional 55,503 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC raised its stake in Steven Madden by 10.6% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 544,073 shares of the company’s stock valued at $20,152,000 after buying an additional 52,060 shares during the last quarter. Hedge funds and other institutional investors own 93.25% of the company’s stock.

Steven Madden, Ltd. (NASDAQ:SHOO) traded up 0.20% during mid-day trading on Thursday, reaching $34.82. 571,335 shares of the company’s stock were exchanged. Steven Madden, Ltd. has a 12 month low of $27.80 and a 12 month high of $39.21. The stock has a 50-day moving average of $35.00 and a 200-day moving average of $34.98. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 18.45 and a beta of 0.90.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. The firm earned $325.40 million during the quarter, compared to the consensus estimate of $329.54 million. Steven Madden had a net margin of 8.02% and a return on equity of 16.36%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Analysts anticipate that Steven Madden, Ltd. will post $1.99 earnings per share for the current year.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Steven Madden from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 16th. Buckingham Research lowered shares of Steven Madden from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $40.00 to $36.00 in a report on Monday, July 18th. Susquehanna assumed coverage on shares of Steven Madden in a report on Friday, August 12th. They set a “positive” rating and a $42.00 price objective for the company. B. Riley lowered shares of Steven Madden from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $47.00 to $40.00 in a report on Monday, August 1st. Finally, Piper Jaffray Cos. reaffirmed a “hold” rating and set a $34.00 price objective on shares of Steven Madden in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.64.

In other news, Director Richard P. Randall sold 3,125 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $35.33, for a total transaction of $110,406.25. Following the completion of the sale, the director now owns 26,425 shares of the company’s stock, valued at approximately $933,595.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

About Steven Madden

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