Steven Madden, Ltd. (NASDAQ:SHOO) Shares Acquired by nVerses Capital LLC

nVerses Capital LLC increased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 29.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,800 shares of the textile maker’s stock after purchasing an additional 1,100 shares during the quarter. nVerses Capital LLC’s holdings in Steven Madden were worth $235,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Creative Planning increased its position in shares of Steven Madden by 25.2% in the third quarter. Creative Planning now owns 13,507 shares of the textile maker’s stock worth $662,000 after acquiring an additional 2,716 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Steven Madden during the 3rd quarter worth $59,000. GAMMA Investing LLC increased its holdings in Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares in the last quarter. Aristides Capital LLC purchased a new position in Steven Madden in the second quarter valued at about $261,000. Finally, Algert Global LLC acquired a new position in shares of Steven Madden during the second quarter worth about $299,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Steven Madden Trading Down 0.1 %

SHOO stock opened at $48.56 on Friday. The firm has a 50 day simple moving average of $46.05 and a 200-day simple moving average of $43.60. The company has a market capitalization of $3.53 billion, a P/E ratio of 19.82 and a beta of 1.08. Steven Madden, Ltd. has a twelve month low of $31.56 and a twelve month high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data 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 company had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. On average, research analysts predict that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.73%. The ex-dividend date was Friday, September 13th. Steven Madden’s payout ratio is currently 34.29%.

Steven Madden Company 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.