SG Americas Securities LLC Decreases Stock Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

SG Americas Securities LLC trimmed its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 86.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,013 shares of the textile maker’s stock after selling 25,091 shares during the quarter. SG Americas Securities LLC’s holdings in Steven Madden were worth $169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SHOO. Belpointe Asset Management LLC increased its position in shares of Steven Madden by 83.9% during the first quarter. Belpointe Asset Management LLC now owns 997 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 455 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its position in shares of Steven Madden by 312.3% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 1,168 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Steven Madden during the second quarter valued at approximately $55,000. Dark Forest Capital Management LP purchased a new stake in shares of Steven Madden during the first quarter valued at approximately $56,000. Finally, Tower Research Capital LLC TRC increased its position in Steven Madden by 26.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,531 shares of the textile maker’s stock worth $80,000 after buying an additional 533 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on SHOO shares. Piper Sandler started coverage on Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price for the company. Telsey Advisory Group raised their target price on Steven Madden from $39.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Citigroup raised their target price on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Finally, Wedbush raised their price target on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.38.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $39.09 on Monday. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 17.00 and a beta of 1.16. Steven Madden, Ltd. has a 52-week low of $29.92 and a 52-week high of $45.63. The stock has a fifty day moving average of $41.95 and a 200 day moving average of $39.29.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The company had revenue of $519.71 million during the quarter, compared to analyst estimates of $511.96 million. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. Equities analysts forecast that Steven Madden, Ltd. will post 2.61 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden’s dividend payout ratio is 36.52%.

Insiders Place Their Bets

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the transaction, the director now owns 5,751 shares in the company, valued at $242,289.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the transaction, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock valued at $2,464,841 over the last 90 days. Insiders own 2.01% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.