Victory Capital Management Inc. Boosts Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Victory Capital Management Inc. lifted its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 814,532 shares of the textile maker’s stock after acquiring an additional 11,094 shares during the period. Victory Capital Management Inc. owned approximately 1.48% of Steven Madden worth $32,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC increased its position in Steven Madden by 105.0% in the 2nd quarter. TrimTabs Asset Management LLC now owns 6,197 shares of the textile maker’s stock valued at $248,000 after acquiring an additional 3,174 shares during the period. State Board of Administration of Florida Retirement System increased its position in Steven Madden by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 53,280 shares of the textile maker’s stock valued at $2,129,000 after acquiring an additional 217 shares during the period. William Blair Investment Management LLC increased its position in Steven Madden by 58.9% in the 2nd quarter. William Blair Investment Management LLC now owns 684,896 shares of the textile maker’s stock valued at $27,362,000 after acquiring an additional 253,841 shares during the period. Jennison Associates LLC increased its position in Steven Madden by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after acquiring an additional 44 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in Steven Madden in the 2nd quarter valued at approximately $207,000. Institutional investors and hedge funds own 91.36% of the company’s stock.

Shares of Steven Madden, Ltd. (NASDAQ SHOO) traded up 0.95% during midday trading on Friday, hitting $42.35. 666,624 shares of the stock were exchanged. The firm’s 50-day moving average is $41.87 and its 200 day moving average is $39.18. The firm has a market cap of $2.51 billion, a PE ratio of 20.39 and a beta of 0.51. Steven Madden, Ltd. has a 52-week low of $32.30 and a 52-week high of $43.80.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The business had revenue of $374.15 million for the quarter, compared to the consensus estimate of $355.22 million. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts forecast that Steven Madden, Ltd. will post $2.25 earnings per share for the current year.

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Several research analysts recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Steven Madden in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Friday. Telsey Advisory Group raised their price objective on shares of Steven Madden from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, Canaccord Genuity set a $47.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Steven Madden currently has a consensus rating of “Buy” and an average target price of $43.96.

In other news, insider Karla Frieders sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the sale, the insider now directly owns 83,216 shares of the company’s stock, valued at approximately $3,212,969.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.06% of the stock is owned by company 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.

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

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