Steven Madden (NASDAQ:SHOO) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.
A number of other research analysts also recently commented on SHOO. Buckingham Research upgraded Steven Madden from a “neutral” rating to a “buy” rating and increased their target price for the company from $39.00 to $48.00 in a research report on Wednesday, November 29th. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the company a “buy” rating in a research report on Thursday, November 30th. Susquehanna Bancshares reiterated a “buy” rating and set a $50.00 target price on shares of Steven Madden in a research report on Monday, December 4th. Wedbush reiterated a “buy” rating and set a $53.00 target price on shares of Steven Madden in a research report on Tuesday, December 19th. Finally, Zacks Investment Research upgraded Steven Madden from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Steven Madden has a consensus rating of “Buy” and an average price target of $49.29.
Steven Madden (NASDAQ SHOO) opened at $45.40 on Thursday. The company has a market capitalization of $2,598.17, a P/E ratio of 22.15, a PEG ratio of 1.42 and a beta of 0.45. Steven Madden has a 52-week low of $35.55 and a 52-week high of $49.28.
In related news, COO Awadhesh K. Sinha sold 6,500 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the sale, the chief operating officer now directly owns 63,383 shares in the company, valued at $2,854,136.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.06% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new stake in Steven Madden in the fourth quarter worth $248,000. J. Goldman & Co LP purchased a new stake in Steven Madden in the fourth quarter worth $4,375,000. CS Mckee LP increased its stake in Steven Madden by 49.4% in the fourth quarter. CS Mckee LP now owns 33,275 shares of the textile maker’s stock worth $1,554,000 after purchasing an additional 11,000 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Steven Madden in the fourth quarter worth $1,283,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in Steven Madden by 13.4% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 22,780 shares of the textile maker’s stock worth $1,064,000 after purchasing an additional 2,700 shares during the period. Institutional investors own 93.32% of the company’s stock.
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About Steven Madden
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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