Quantedge Capital Pte Ltd Sells 123,000 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Quantedge Capital Pte Ltd lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 61.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,700 shares of the textile maker's stock after selling 123,000 shares during the quarter. Steven Madden makes up about 1.2% of Quantedge Capital Pte Ltd's investment portfolio, making the stock its 25th largest holding. Quantedge Capital Pte Ltd owned 0.11% of Steven Madden worth $3,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Steven Madden during the 4th quarter worth approximately $55,000. Quarry LP grew its stake in Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after purchasing an additional 1,110 shares during the period. Blue Trust Inc. boosted its holdings in Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after acquiring an additional 339 shares in the last quarter. KBC Group NV raised its stake in shares of Steven Madden by 36.5% in the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock worth $128,000 after purchasing an additional 805 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Steven Madden by 21.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker's stock worth $176,000 after purchasing an additional 741 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SHOO shares. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price target on shares of Steven Madden in a report on Thursday, May 8th. Citigroup decreased their price objective on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. UBS Group increased their price target on Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Piper Sandler decreased their price objective on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.00.

Steven Madden Stock Performance

SHOO stock opened at $26.75 on Wednesday. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01. The stock's fifty day moving average is $23.50 and its two-hundred day moving average is $35.19. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 11.38 and a beta of 1.04.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden's revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. As a group, analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.14%. Steven Madden's payout ratio is 36.21%.

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.

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