Steven Madden, Ltd. $SHOO Position Cut by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 88.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,420 shares of the textile maker’s stock after selling 18,298 shares during the period. Sterling Capital Management LLC’s holdings in Steven Madden were worth $108,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SHOO. Dimensional Fund Advisors LP raised its position in shares of Steven Madden by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker’s stock valued at $79,819,000 after acquiring an additional 99,066 shares in the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in Steven Madden during the second quarter worth $49,890,563. Fort Washington Investment Advisors Inc. OH boosted its holdings in Steven Madden by 13.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 645,578 shares of the textile maker’s stock worth $28,903,000 after purchasing an additional 77,108 shares during the period. Bank of New York Mellon Corp acquired a new position in Steven Madden in the second quarter worth $25,618,000. Finally, Bank of America Corp DE boosted its holdings in Steven Madden by 4.9% in the first quarter. Bank of America Corp DE now owns 751,627 shares of the textile maker’s stock worth $25,495,000 after purchasing an additional 35,259 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SHOO. Telsey Advisory Group increased their target price on shares of Steven Madden from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings downgraded shares of Steven Madden from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. UBS Group restated a “neutral” rating and issued a $45.00 price target (up from $40.00) on shares of Steven Madden in a research report on Friday, July 31st. Williams Trading set a $56.00 price target on shares of Steven Madden in a report on Monday, August 3rd. Finally, Capital One Financial set a $60.00 price objective on shares of Steven Madden in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.30.

Steven Madden Stock Performance

Shares of SHOO stock opened at $43.53 on Tuesday. Steven Madden, Ltd. has a 12-month low of $31.33 and a 12-month high of $49.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.91 and a quick ratio of 1.13. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 21.87 and a beta of 1.17. The business has a 50 day simple moving average of $43.93 and a 200 day simple moving average of $41.44.

Insiders Place Their Bets

In other Steven Madden news, Director Arian Reed sold 1,250 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $48.76, for a total transaction of $60,950.00. Following the completion of the transaction, the director owned 8,196 shares in the company, valued at approximately $399,636.96. The trade was a 13.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mitchell Klipper sold 3,918 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total value of $190,179.72. Following the completion of the transaction, the director directly owned 32,555 shares of the company’s stock, valued at approximately $1,580,219.70. The trade was a 10.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.21% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.