Hussman Strategic Advisors Inc. Buys 42,000 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Hussman Strategic Advisors Inc. boosted its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 100.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,000 shares of the textile maker's stock after purchasing an additional 42,000 shares during the quarter. Hussman Strategic Advisors Inc. owned about 0.12% of Steven Madden worth $2,238,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SHOO. CX Institutional bought a new position in Steven Madden during the 1st quarter valued at $32,000. Quarry LP increased its holdings in Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after acquiring an additional 1,110 shares during the last quarter. CWM LLC grew its holdings in Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock valued at $61,000 after buying an additional 1,589 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Steven Madden during the 4th quarter valued at about $177,000. Finally, Mariner LLC grew its holdings in Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock valued at $202,000 after buying an additional 319 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Trading Up 1.3%

SHOO stock traded up $0.34 during trading on Friday, reaching $26.47. The stock had a trading volume of 1,599,690 shares, compared to its average volume of 1,149,074. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The stock's 50 day moving average is $25.00 and its two-hundred day moving average is $28.95. The firm has a market cap of $1.92 billion, a PE ratio of 11.41 and a beta of 1.10.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. The company had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same quarter in the prior year, the company earned $0.65 earnings per share. Steven Madden's revenue was up .2% on a year-over-year basis. On average, research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, June 9th. Steven Madden's dividend payout ratio (DPR) is currently 36.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SHOO. UBS Group boosted their price objective on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price objective on shares of Steven Madden in a research report on Wednesday, June 4th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and upped their price target for the stock from $26.00 to $32.00 in a research note on Thursday. Finally, Piper Sandler cut their target price on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.00.

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.