nVerses Capital LLC Grows Stock Position in Steven Madden, Ltd. (NASDAQ:SHOO)

nVerses Capital LLC lifted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 3,600.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,700 shares of the textile maker’s stock after purchasing an additional 3,600 shares during the quarter. nVerses Capital LLC’s holdings in Steven Madden were worth $157,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Steven Madden during the fourth quarter worth approximately $32,000. Blue Trust Inc. raised its stake in shares of Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Steven Madden during the first quarter worth approximately $47,000. EntryPoint Capital LLC purchased a new stake in shares of Steven Madden during the first quarter worth approximately $81,000. Finally, Central Pacific Bank Trust Division acquired a new position in Steven Madden during the first quarter worth $170,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

Steven Madden stock opened at $45.10 on Tuesday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 18.64 and a beta of 1.09. Steven Madden, Ltd. has a fifty-two week low of $30.35 and a fifty-two week high of $47.24. The stock’s fifty day moving average is $43.52 and its two-hundred day moving average is $42.52.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The company had revenue of $523.60 million for the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. Steven Madden’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.62 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, September 13th. Steven Madden’s payout ratio is currently 34.71%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SHOO. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. BTIG Research upped their price objective on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 31st. Finally, Wedbush reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Steven Madden currently has an average rating of “Hold” and a consensus price target of $44.29.

Insider Activity at Steven Madden

In related news, Director Peter Migliorini sold 3,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the sale, the director now owns 16,006 shares of the company’s stock, valued at $701,222.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the sale, the director now owns 21,303 shares of the company’s stock, valued at $946,066.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter Migliorini sold 3,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total value of $131,430.00. Following the sale, the director now directly owns 16,006 shares in the company, valued at approximately $701,222.86. The disclosure for this sale can be found here. Corporate insiders own 2.08% of the company’s stock.

Steven Madden Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.