Trexquant Investment LP Boosts Stake in Steven Madden, Ltd. $SHOO

Key Points

• Trexquant Investment LP increased its ownership in Steven Madden, Ltd. by 71.4%, acquiring an additional 183,769 shares to hold a total of 441,103 shares valued at approximately $11.75 million.
• Institutional investors collectively own 99.88% of Steven Madden's shares, with significant increases from Deutsche Bank AG and Allspring Global Investments Holdings LLC in recent quarters.
• Steven Madden's latest quarterly earnings showed a missed consensus estimate of $0.24 EPS, reporting only $0.20, alongside a revenue of $556.09 million against an expected $575.83 million.

Trexquant Investment LP boosted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 71.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 441,103 shares of the textile maker's stock after buying an additional 183,769 shares during the period. Trexquant Investment LP owned approximately 0.61% of Steven Madden worth $11,751,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Synovus Financial Corp increased its position in Steven Madden by 64.9% during the 1st quarter. Synovus Financial Corp now owns 20,096 shares of the textile maker's stock valued at $535,000 after buying an additional 7,909 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its position in Steven Madden by 612.4% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 106,397 shares of the textile maker's stock valued at $2,834,000 after buying an additional 91,463 shares in the last quarter. Systematic Financial Management LP increased its position in Steven Madden by 1.2% during the 1st quarter. Systematic Financial Management LP now owns 490,643 shares of the textile maker's stock valued at $13,071,000 after buying an additional 5,587 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Steven Madden by 7.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 248,284 shares of the textile maker's stock valued at $6,614,000 after buying an additional 18,024 shares in the last quarter. Finally, AlphaQuest LLC increased its position in Steven Madden by 37.4% during the 1st quarter. AlphaQuest LLC now owns 40,025 shares of the textile maker's stock valued at $1,066,000 after buying an additional 10,890 shares in the last quarter. Institutional investors own 99.88% of the company's stock.

Steven Madden Stock Performance

Shares of SHOO stock traded down $0.14 on Friday, reaching $29.04. The stock had a trading volume of 1,101,589 shares, compared to its average volume of 1,473,280. The stock has a market cap of $2.11 billion, a P/E ratio of 22.87 and a beta of 1.21. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01. The company has a 50 day simple moving average of $25.94 and a 200 day simple moving average of $25.87.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The firm had revenue of $556.09 million during the quarter, compared to analysts' expectations of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. Equities research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, September 12th. This represents a $0.84 annualized dividend and a yield of 2.9%. Steven Madden's payout ratio is 66.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SHOO shares. Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and raised their price objective for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. Telsey Advisory Group reiterated a "market perform" rating and set a $26.00 target price (up from $24.00) on shares of Steven Madden in a research note on Wednesday, July 30th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Wednesday, July 30th. Wall Street Zen downgraded Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, UBS Group increased their target price on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.80.

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.