Vise Technologies Inc. Makes New Investment in Steven Madden, Ltd. $SHOO

Vise Technologies Inc. bought a new position in Steven Madden, Ltd. (NASDAQ:SHOO) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 654,499 shares of the textile maker’s stock, valued at approximately $29,302,000.

Several other large investors have also recently made changes to their positions in the stock. State of Wyoming acquired a new stake in shares of Steven Madden during the 3rd quarter valued at about $521,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Steven Madden in the third quarter valued at about $457,000. Choreo LLC purchased a new stake in shares of Steven Madden in the third quarter valued at $209,000. Tectonic Advisors LLC increased its position in Steven Madden by 57.4% in the 3rd quarter. Tectonic Advisors LLC now owns 63,517 shares of the textile maker’s stock valued at $2,844,000 after acquiring an additional 23,173 shares during the period. Finally, Reyes Financial Architecture Inc. acquired a new position in shares of Steven Madden in the 3rd quarter worth $86,000. 99.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SHOO shares. Zacks Research lowered shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Piper Sandler set a $55.00 price objective on Steven Madden and gave the company an “overweight” rating in a report on Wednesday, August 5th. BMO Capital Markets began coverage on Steven Madden in a research note on Tuesday, September 8th. They issued an “outperform” rating and a $60.00 price target for the company. UBS Group reiterated a “neutral” rating and issued a $45.00 price objective (up from $40.00) on shares of Steven Madden in a research note on Friday, July 31st. Finally, Capital One Financial set a $60.00 target price on Steven Madden in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

Steven Madden Trading Down 3.2%

Steven Madden stock opened at $43.50 on Friday. The firm’s 50 day moving average price is $43.98 and its 200-day moving average price is $41.46. Steven Madden, Ltd. has a 1 year low of $31.33 and a 1 year 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 stock has a market cap of $3.18 billion, a P/E ratio of 21.86 and a beta of 1.17.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, July 30th. The textile maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.33 by $0.11. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%. The firm had revenue of $665.87 million during the quarter, compared to analyst estimates of $635.39 million. During the same quarter in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, equities analysts predict that Steven Madden, Ltd. will post 2.15 earnings per share for the current fiscal year.

Insider Transactions at Steven Madden

In other news, Director Mitchell Klipper sold 3,918 shares of the firm’s 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 owned 32,555 shares in the company, valued at $1,580,219.70. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Arian Reed sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $48.76, for a total value of $60,950.00. Following the completion of the transaction, the director directly owned 8,196 shares in the company, valued at $399,636.96. This trade represents a 13.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,086 shares of company stock worth $440,212. Company insiders own 2.21% of the company’s stock.

Steven Madden Profile

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.