Aigen Investment Management LP Sells 4,204 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Aigen Investment Management LP lessened its stake in Steven Madden, Ltd. (NASDAQ:SHOO) by 31.5% in the third quarter, HoldingsChannel reports. The fund owned 9,158 shares of the textile maker’s stock after selling 4,204 shares during the period. Aigen Investment Management LP’s holdings in Steven Madden were worth $449,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Steven Madden during the 3rd quarter valued at $59,000. GAMMA Investing LLC grew its holdings in Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after acquiring an additional 593 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Steven Madden in the 1st quarter worth $81,000. Finally, International Assets Investment Management LLC increased its position in shares of Steven Madden by 4,800.0% in the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 1,872 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Trading Down 0.7 %

Shares of SHOO stock opened at $43.95 on Friday. The company’s fifty day moving average price is $46.42 and its 200-day moving average price is $44.28. The stock has a market cap of $3.17 billion, a PE ratio of 18.70 and a beta of 1.08. Steven Madden, Ltd. has a 12 month low of $35.64 and a 12 month high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Steven Madden’s quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts forecast that Steven Madden, Ltd. will post 2.65 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research note on Wednesday. Piper Sandler restated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Citigroup lifted their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.43.

Steven Madden 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.