Steven Madden (SHOO) Lowered to Hold at BidaskClub

Steven Madden (NASDAQ:SHOO) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, January 18th.

SHOO has been the topic of several other reports. Piper Jaffray Companies set a $51.00 price target on shares of Steven Madden and gave the company a “buy” rating in a report on Monday, January 8th. Telsey Advisory Group decreased their price objective on shares of Steven Madden from $45.00 to $44.00 and set an “outperform” rating for the company in a research report on Wednesday, November 1st. Canaccord Genuity set a $47.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a research report on Thursday, November 30th. Citigroup reiterated a “buy” rating and issued a $56.00 price objective on shares of Steven Madden in a research report on Tuesday, January 16th. Finally, Jefferies Group set a $39.00 price target on shares of Steven Madden and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $49.13.

Shares of Steven Madden (NASDAQ:SHOO) opened at $42.75 on Thursday. Steven Madden has a 1-year low of $35.55 and a 1-year high of $49.28. The firm has a market cap of $2,523.71, a price-to-earnings ratio of 20.26, a PEG ratio of 1.52 and a beta of 0.41.

In related news, President Amelia Varela sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the transaction, the president now owns 113,007 shares of the company’s stock, valued at approximately $4,834,439.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Awadhesh K. Sinha sold 6,500 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.03, for a total transaction of $292,695.00. Following the transaction, the chief operating officer now directly owns 63,383 shares of the company’s stock, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. In the last three months, insiders sold 32,000 shares of company stock valued at $1,384,000. Corporate insiders own 2.06% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SHOO. Riverhead Capital Management LLC lifted its holdings in 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 buying an additional 1,262 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in Steven Madden during the 3rd quarter worth approximately $158,000. First Quadrant L P CA acquired a new stake in Steven Madden during the 3rd quarter worth approximately $191,000. Public Employees Retirement System of Ohio lifted its holdings in Steven Madden by 9.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after buying an additional 415 shares in the last quarter. Finally, Worth Venture Partners LLC acquired a new stake in Steven Madden during the 3rd quarter worth approximately $205,000. Institutional investors own 93.12% of the company’s stock.

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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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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