Aigen Investment Management LP Reduces Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Aigen Investment Management LP reduced its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 31.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,158 shares of the textile maker’s stock after selling 4,204 shares during the period. Aigen Investment Management LP’s holdings in Steven Madden were worth $449,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC increased its position in Steven Madden by 225.8% in the first quarter. SG Americas Securities LLC now owns 13,075 shares of the textile maker’s stock worth $553,000 after buying an additional 9,062 shares during the last quarter. ProShare Advisors LLC increased its holdings in Steven Madden by 5.8% in the 1st quarter. ProShare Advisors LLC now owns 14,817 shares of the textile maker’s stock worth $626,000 after acquiring an additional 807 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Steven Madden in the 1st quarter valued at about $5,834,000. Seven Eight Capital LP lifted its holdings in Steven Madden by 902.5% during the first quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock valued at $2,083,000 after purchasing an additional 44,351 shares during the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in Steven Madden during the first quarter worth about $757,000. Institutional investors own 99.88% of the company’s stock.

Analyst Upgrades and Downgrades

SHOO has been the topic of several research reports. Citigroup boosted their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Wednesday. Finally, Piper Sandler restated a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and an average price target of $45.43.

Steven Madden Stock Down 0.7 %

Steven Madden stock opened at $43.95 on Friday. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 18.70 and a beta of 1.08. The business has a 50-day simple moving average of $46.42 and a 200 day simple moving average of $44.28. Steven Madden, Ltd. has a 52 week low of $35.64 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. On average, research analysts anticipate that Steven Madden, Ltd. will post 2.65 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio is currently 35.74%.

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.