Steven Madden, Ltd. (NASDAQ:SHOO) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 80.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,329 shares of the textile maker’s stock after acquiring an additional 593 shares during the period. GAMMA Investing LLC’s holdings in Steven Madden were worth $65,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its position in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 825 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Steven Madden during the first quarter worth $47,000. EntryPoint Capital LLC acquired a new stake in Steven Madden during the first quarter valued at $81,000. nVerses Capital LLC increased its holdings in Steven Madden by 3,600.0% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after buying an additional 3,600 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Steven Madden in the first quarter worth about $170,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Analysts Set New Price Targets

SHOO has been the topic of a number of analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Wedbush reaffirmed a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.29.

Steven Madden Stock Performance

NASDAQ SHOO opened at $48.17 on Wednesday. Steven Madden, Ltd. has a one year low of $31.56 and a one year high of $50.01. The business has a fifty day moving average price of $45.70 and a 200 day moving average price of $43.49. The company has a market cap of $3.53 billion, a P/E ratio of 19.90 and a beta of 1.08.

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

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.74%. Steven Madden’s payout ratio is 34.71%.

About Steven Madden

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.