Steven Madden, Ltd. (SHOO) Stake Lowered by Ranger Investment Management L.P.
Ranger Investment Management L.P. lessened its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,007,330 shares of the textile maker’s stock after selling 48,410 shares during the period. Steven Madden accounts for approximately 3.5% of Ranger Investment Management L.P.’s holdings, making the stock its 5th biggest position. Ranger Investment Management L.P.’s holdings in Steven Madden were worth $47,042,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. First Quadrant L P CA bought a new stake in shares of Steven Madden during the 3rd quarter valued at $191,000. Worth Venture Partners LLC bought a new stake in shares of Steven Madden during the 3rd quarter valued at $205,000. Public Employees Retirement System of Ohio boosted its stake in Steven Madden by 9.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after purchasing an additional 415 shares in the last quarter. Sawgrass Asset Management LLC bought a new position in Steven Madden in the 3rd quarter worth about $238,000. Finally, Boothbay Fund Management LLC bought a new position in Steven Madden in the 3rd quarter worth about $242,000. Hedge funds and other institutional investors own 93.32% of the company’s stock.
Steven Madden, Ltd. (NASDAQ SHOO) opened at $43.60 on Monday. The stock has a market cap of $2,562.90, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.58 and a beta of 0.45. Steven Madden, Ltd. has a one year low of $35.55 and a one year high of $49.28.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 12th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, March 9th.
A number of equities analysts recently issued reports on SHOO shares. Citigroup reiterated a “buy” rating and issued a $56.00 price target on shares of Steven Madden in a research note on Tuesday, January 16th. Wells Fargo & Co set a $46.00 price target on shares of Steven Madden and gave the stock a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray Companies set a $51.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research note on Monday, January 8th. Zacks Investment Research cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, Susquehanna Bancshares reiterated a “buy” rating and issued a $48.00 price target on shares of Steven Madden in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Steven Madden currently has an average rating of “Buy” and a consensus target price of $49.29.
In other Steven Madden news, COO Awadhesh K. Sinha sold 6,500 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $45.03, for a total transaction of $292,695.00. Following the transaction, the chief operating officer now owns 63,383 shares in the company, valued at approximately $2,854,136.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.06% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: “Steven Madden, Ltd. (SHOO) Stake Lowered by Ranger Investment Management L.P.” was published by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://www.dailypolitical.com/2018/03/05/steven-madden-ltd-shoo-stake-lowered-by-ranger-investment-management-l-p.html.
Steven Madden Company Profile
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.
Want to see what other hedge funds are holding SHOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steven Madden, Ltd. (NASDAQ:SHOO).
Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.