Ameriprise Financial Inc. Buys 39,385 Shares of Steven Madden, Ltd. (SHOO)
Ameriprise Financial Inc. grew its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 9.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 444,477 shares of the textile maker’s stock after buying an additional 39,385 shares during the quarter. Ameriprise Financial Inc. owned 0.75% of Steven Madden worth $19,246,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in SHOO. Riverhead Capital Management LLC lifted its stake in Steven Madden by 97.1% during the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after purchasing an additional 1,262 shares during the last quarter. First Mercantile Trust Co. lifted its stake in Steven Madden by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after purchasing an additional 60 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new stake in Steven Madden during the third quarter worth approximately $158,000. First Quadrant L P CA purchased a new stake in Steven Madden during the third quarter worth approximately $191,000. Finally, IFP Advisors Inc lifted its stake in Steven Madden by 3,804.2% during the second quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock worth $184,000 after purchasing an additional 4,489 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.
Several equities research analysts recently weighed in on the company. Wedbush assumed coverage on Steven Madden in a research note on Monday, August 14th. They set an “outperform” rating and a $48.00 target price for the company. ValuEngine cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the stock a “buy” rating in a research note on Thursday, November 30th. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, September 28th. Finally, Piper Jaffray Companies set a $43.00 target price on Steven Madden and gave the stock a “buy” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Steven Madden presently has a consensus rating of “Buy” and a consensus target price of $45.41.
Steven Madden, Ltd. (NASDAQ:SHOO) opened at $43.80 on Tuesday. The stock has a market capitalization of $2,606.45, a P/E ratio of 19.69, a PEG ratio of 1.66 and a beta of 0.52. Steven Madden, Ltd. has a twelve month low of $33.50 and a twelve month high of $44.90.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The business had revenue of $441.19 million for the quarter, compared to analyst estimates of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. research analysts anticipate that Steven Madden, Ltd. will post 2.21 earnings per share for the current fiscal year.
In other news, Director Richard P. Randall sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the transaction, the director now owns 22,809 shares of the company’s stock, valued at $867,882.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Amelia Varela sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total value of $1,069,500.00. Following the completion of the transaction, the president now directly owns 113,007 shares in the company, valued at approximately $4,834,439.46. The disclosure for this sale can be found here. In the last three months, insiders sold 27,500 shares of company stock worth $1,167,405. Corporate insiders own 2.06% of the company’s stock.
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About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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