Steven Madden, Ltd. (SHOO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 2.3% during the first quarter, Holdings Channel reports. The fund owned 101,355 shares of the textile maker’s stock after selling 2,413 shares during the period. Mutual of America Capital Management LLC’s holdings in Steven Madden were worth $3,907,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Macquarie Group Ltd. raised its stake in Steven Madden by 6.9% in the fourth quarter. Macquarie Group Ltd. now owns 1,799,606 shares of the textile maker’s stock valued at $64,336,000 after buying an additional 116,471 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Steven Madden by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,517,039 shares of the textile maker’s stock valued at $54,236,000 after buying an additional 51,730 shares during the last quarter. State Street Corp raised its stake in Steven Madden by 5.3% in the fourth quarter. State Street Corp now owns 1,335,937 shares of the textile maker’s stock valued at $47,761,000 after buying an additional 67,187 shares during the last quarter. Ranger Investment Management L.P. raised its stake in Steven Madden by 11.9% in the fourth quarter. Ranger Investment Management L.P. now owns 1,012,179 shares of the textile maker’s stock valued at $36,185,000 after buying an additional 107,610 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Steven Madden by 0.6% in the third quarter. Northern Trust Corp now owns 1,009,293 shares of the textile maker’s stock valued at $34,882,000 after buying an additional 5,917 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) traded up 0.40% on Friday, reaching $37.25. The company’s stock had a trading volume of 597,810 shares. The company has a 50 day moving average of $37.61 and a 200 day moving average of $37.09. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 18.67 and a beta of 0.43. Steven Madden, Ltd. has a 52 week low of $32.14 and a 52 week high of $40.55.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Friday, April 21st. The textile maker reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. The firm had revenue of $366.40 million during the quarter, compared to the consensus estimate of $359.52 million. Steven Madden had a net margin of 8.11% and a return on equity of 16.26%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. On average, analysts forecast that Steven Madden, Ltd. will post $2.19 earnings per share for the current year.

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Several equities research analysts have recently issued reports on SHOO shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Wednesday, April 19th. Citigroup Inc raised their price objective on Steven Madden from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Zacks Investment Research downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. Piper Jaffray Companies upgraded Steven Madden from a “neutral” rating to an “overweight” rating and set a $41.00 price target on the stock in a report on Thursday, February 23rd. Finally, B. Riley reiterated a “buy” rating and issued a $45.00 price target on shares of Steven Madden in a report on Monday, April 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $41.20.

In related news, insider Karla Frieders sold 10,600 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $37.59, for a total value of $398,454.00. Following the completion of the sale, the insider now owns 79,269 shares in the company, valued at $2,979,721.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard P. Randall sold 2,454 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $38.48, for a total transaction of $94,429.92. Following the completion of the sale, the director now owns 24,551 shares of the company’s stock, valued at approximately $944,722.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,554 shares of company stock valued at $1,502,959. 2.20% of the stock is owned by insiders.

Steven Madden Company Profile

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

5 Day Chart for NASDAQ:SHOO

Want to see what other hedge funds are holding SHOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steven Madden, Ltd. (NASDAQ:SHOO).

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