Cortina Asset Management LLC Sells 1,821 Shares of Steven Madden, Ltd. (SHOO)

Cortina Asset Management LLC reduced its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 432,858 shares of the textile maker’s stock after selling 1,821 shares during the period. Cortina Asset Management LLC owned approximately 0.73% of Steven Madden worth $18,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of SHOO. Riverhead Capital Management LLC boosted its stake in shares of Steven Madden by 97.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after purchasing an additional 1,262 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Steven Madden during the 2nd quarter worth about $127,000. First Mercantile Trust Co. boosted its stake in shares of Steven Madden by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after purchasing an additional 60 shares during the period. Fortaleza Asset Management Inc. purchased a new position in shares of Steven Madden during the 3rd quarter worth about $158,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Steven Madden by 9.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock worth $176,000 after purchasing an additional 403 shares during the period. 91.44% of the stock is owned by institutional investors and hedge funds.

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SHOO has been the subject of a number of recent analyst reports. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $48.00 price target on shares of Steven Madden in a research note on Monday, October 23rd. Zacks Investment Research cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Piper Jaffray Companies reissued a “buy” rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, July 26th. Canaccord Genuity set a $47.00 price objective on shares of Steven Madden and gave the company a “buy” rating in a research report on Tuesday, August 15th. Finally, Telsey Advisory Group boosted their price objective on shares of Steven Madden from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $43.96.

In related news, Director Richard P. Randall sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the completion of the transaction, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.06% of the company’s stock.

Steven Madden, Ltd. (NASDAQ SHOO) traded up $1.10 during midday trading on Tuesday, hitting $40.40. 889,500 shares of the company traded hands, compared to its average volume of 495,083. The company has a market cap of $2,322.76, a price-to-earnings ratio of 17.55, a PEG ratio of 1.48 and a beta of 0.48. Steven Madden, Ltd. has a 1 year low of $33.50 and a 1 year high of $44.40.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $441.19 million during the quarter, compared to analyst estimates of $441.03 million. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. Steven Madden’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. analysts expect that Steven Madden, Ltd. will post 2.21 EPS for the current fiscal year.

Steven Madden 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.

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

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