State of Wyoming Purchases New Stake in Steven Madden, Ltd. $SHOO

State of Wyoming purchased a new position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,643 shares of the textile maker’s stock, valued at approximately $521,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHOO. Integrated Wealth Concepts LLC purchased a new stake in shares of Steven Madden during the 2nd quarter valued at approximately $32,000. Signature Resources Capital Management LLC purchased a new position in Steven Madden in the first quarter worth approximately $49,000. Reyes Financial Architecture Inc. purchased a new position in Steven Madden in the third quarter worth approximately $86,000. Public Employees Retirement System of Ohio purchased a new position in Steven Madden in the second quarter worth approximately $95,000. Finally, Nykredit A S acquired a new stake in Steven Madden during the second quarter worth $128,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Up 0.1%

Shares of NASDAQ SHOO opened at $43.53 on Tuesday. Steven Madden, Ltd. has a 52-week low of $31.33 and a 52-week high of $49.70. The firm has a fifty day moving average of $43.93 and a 200-day moving average of $41.44. The stock has a market capitalization of $3.19 billion, a PE ratio of 21.87 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 0.13.

Insider Transactions at Steven Madden

In related news, Director Arian Reed sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $48.76, for a total value of $60,950.00. Following the transaction, the director owned 8,196 shares in the company, valued at approximately $399,636.96. This trade represents a 13.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mitchell S. Klipper sold 3,918 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $48.54, for a total transaction of $190,179.72. Following the completion of the transaction, the director directly owned 32,555 shares in the company, valued at approximately $1,580,219.70. This represents a 10.74% decrease in their position. The SEC filing for this sale provides additional information. 2.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on SHOO. UBS Group restated a “neutral” rating and issued a $45.00 target price (up from $40.00) on shares of Steven Madden in a research report on Friday, July 31st. Capital One Financial set a $60.00 price target on Steven Madden in a report on Tuesday, September 8th. Weiss Ratings cut Steven Madden from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. BTIG Research reissued a “buy” rating and set a $55.00 price objective on shares of Steven Madden in a research report on Tuesday, October 27th. Finally, Telsey Advisory Group boosted their price objective on shares of Steven Madden from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Steven Madden has an average rating of “Moderate Buy” and a consensus price target of $52.30.

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.