Stanley Laman Group Ltd. Sells 1,237 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Stanley Laman Group Ltd. lowered its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,909 shares of the textile maker’s stock after selling 1,237 shares during the period. Stanley Laman Group Ltd.’s holdings in Steven Madden were worth $812,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Keybank National Association OH boosted its stake in Steven Madden by 21.4% during the second quarter. Keybank National Association OH now owns 35,928 shares of the textile maker’s stock valued at $1,220,000 after buying an additional 6,325 shares during the period. Janus Henderson Group PLC bought a new stake in Steven Madden during the second quarter valued at $12,004,000. Municipal Employees Retirement System of Michigan boosted its stake in Steven Madden by 1.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 23,380 shares of the textile maker’s stock valued at $794,000 after buying an additional 400 shares during the period. Aperio Group LLC boosted its stake in Steven Madden by 3.3% during the second quarter. Aperio Group LLC now owns 33,838 shares of the textile maker’s stock valued at $1,149,000 after buying an additional 1,071 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in Steven Madden by 3.0% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 83,959 shares of the textile maker’s stock valued at $2,850,000 after buying an additional 2,420 shares during the period. Institutional investors and hedge funds own 97.20% of the company’s stock.

In other news, Director Robert Garrett Smith sold 9,267 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $31.00, for a total value of $287,277.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rose Peabody Lynch sold 3,390 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $32.17, for a total value of $109,056.30. Following the completion of the sale, the director now directly owns 8,469 shares of the company’s stock, valued at approximately $272,447.73. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

SHOO stock traded down $0.47 during mid-day trading on Thursday, hitting $29.65. 7,623 shares of the stock were exchanged, compared to its average volume of 700,791. The firm’s fifty day simple moving average is $32.56. Steven Madden, Ltd. has a 12 month low of $27.88 and a 12 month high of $39.30. The company has a market cap of $2.48 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, July 30th. The textile maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Steven Madden had a return on equity of 19.90% and a net margin of 8.07%. The company had revenue of $444.97 million during the quarter, compared to analyst estimates of $420.40 million. During the same quarter in the previous year, the company posted $0.41 EPS. Steven Madden’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Steven Madden, Ltd. will post 1.85 EPS for the current year.

Several equities research analysts recently issued reports on SHOO shares. ValuEngine lowered Steven Madden from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Zacks Investment Research lowered Steven Madden from a “hold” rating to a “sell” rating and set a $35.00 price target for the company. in a research note on Thursday, July 18th. Canaccord Genuity set a $41.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Friday, April 26th. Citigroup set a $37.00 price target on Steven Madden and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, B. Riley set a $42.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.80.

About Steven Madden

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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

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