Steven Madden, Ltd. (NASDAQ:SHOO) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.
Several other research analysts have also recently issued reports on SHOO. Jefferies Group LLC restated a “hold” rating and issued a $37.00 target price on shares of Steven Madden in a report on Monday, April 3rd. Susquehanna Bancshares Inc restated a “positive” rating and issued a $42.00 target price on shares of Steven Madden in a report on Monday, April 17th. Zacks Investment Research cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. Canaccord Genuity restated a “buy” rating and issued a $45.00 target price on shares of Steven Madden in a report on Wednesday, April 19th. Finally, Piper Jaffray Companies set a $41.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a report on Friday, April 21st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $42.00.
Steven Madden (NASDAQ:SHOO) traded up 0.36% during midday trading on Tuesday, hitting $41.30. 47,099 shares of the stock were exchanged. The stock has a market cap of $2.46 billion, a PE ratio of 20.70 and a beta of 0.54. Steven Madden has a 1-year low of $32.30 and a 1-year high of $41.30. The company’s 50 day moving average is $39.16 and its 200-day moving average is $37.62.
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In other news, Director Rose Peabody Lynch sold 2,240 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $39.32, for a total transaction of $88,076.80. Following the sale, the director now owns 4,754 shares in the company, valued at approximately $186,927.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Karla Frieders sold 60,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $38.99, for a total transaction of $2,339,400.00. Following the sale, the insider now owns 148,216 shares in the company, valued at approximately $5,778,941.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,740 shares of company stock worth $4,832,677. Company insiders own 2.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Elkfork Partners LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock worth $103,000 after buying an additional 396 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock worth $117,000 after buying an additional 1,424 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Steven Madden during the second quarter worth approximately $127,000. Meadow Creek Investment Management LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock worth $131,000 after buying an additional 504 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,114 shares of the textile maker’s stock worth $159,000 after buying an additional 612 shares during the period. Hedge funds and other institutional investors own 91.03% of the company’s stock.
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.
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