Duality Advisers LP acquired a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 71,381 shares of the textile maker’s stock, valued at approximately $1,762,000. Duality Advisers LP owned about 0.09% of Steven Madden at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Guggenheim Capital LLC acquired a new stake in Steven Madden during the fourth quarter worth about $210,000. Alliancebernstein L.P. increased its holdings in shares of Steven Madden by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 144,085 shares of the textile maker’s stock worth $6,197,000 after buying an additional 994 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of Steven Madden by 1.7% during the 4th quarter. Mason Street Advisors LLC now owns 26,948 shares of the textile maker’s stock valued at $1,159,000 after buying an additional 439 shares during the period. Geode Capital Management LLC lifted its holdings in Steven Madden by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 1,206,650 shares of the textile maker’s stock valued at $51,898,000 after acquiring an additional 57,537 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new position in Steven Madden in the fourth quarter worth approximately $250,000. 92.26% of the stock is currently owned by institutional investors.
Shares of NASDAQ:SHOO opened at $21.18 on Friday. The firm has a 50 day simple moving average of $23.03 and a 200-day simple moving average of $27.58. Steven Madden, Ltd. has a twelve month low of $16.38 and a twelve month high of $44.79. The company has a market capitalization of $1.76 billion, a PE ratio of 20.56, a P/E/G ratio of 2.53 and a beta of 1.14.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, July 29th. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. Steven Madden had a return on equity of 10.70% and a net margin of 2.56%. The firm had revenue of $142.80 million for the quarter, compared to the consensus estimate of $181.48 million. During the same quarter last year, the business posted $0.47 EPS. The firm’s quarterly revenue was down 67.9% compared to the same quarter last year. As a group, equities research analysts expect that Steven Madden, Ltd. will post 0.52 EPS for the current fiscal year.
A number of research analysts have commented on SHOO shares. Piper Sandler cut their target price on Steven Madden from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday. Susquehanna Bancshares reiterated a “neutral” rating and issued a $22.00 price objective (down previously from $38.00) on shares of Steven Madden in a report on Monday, April 6th. BTIG Research initiated coverage on Steven Madden in a report on Tuesday, April 28th. They set a “neutral” rating for the company. Citigroup cut their price target on shares of Steven Madden from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, B. Riley lowered their price objective on shares of Steven Madden from $34.00 to $29.00 in a research note on Thursday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Steven Madden currently has an average rating of “Hold” and a consensus target price of $23.20.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.
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