Kornitzer Capital Management Inc. KS Reduces Stake in Steven Madden, Ltd. (NASDAQ:SHOO)

Kornitzer Capital Management Inc. KS decreased its position in Steven Madden, Ltd. (NASDAQ:SHOO) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,943 shares of the textile maker’s stock after selling 1,820 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.10% of Steven Madden worth $3,147,000 at the end of the most recent quarter.

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A number of other large investors have also recently modified their holdings of SHOO. CWM LLC increased its position in Steven Madden by 740.7% during the 3rd quarter. CWM LLC now owns 765 shares of the textile maker’s stock worth $27,000 after buying an additional 674 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Steven Madden by 97.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,015 shares of the textile maker’s stock worth $36,000 after buying an additional 500 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Steven Madden by 1,449.3% in the third quarter. Quadrant Capital Group LLC now owns 1,038 shares of the textile maker’s stock valued at $36,000 after buying an additional 971 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Steven Madden during the 2nd quarter valued at approximately $39,000. Finally, Edge Wealth Management LLC increased its position in Steven Madden by 51.3% during the 3rd quarter. Edge Wealth Management LLC now owns 2,950 shares of the textile maker’s stock worth $105,000 after purchasing an additional 1,000 shares in the last quarter. 99.21% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on the company. Loop Capital raised their price objective on Steven Madden to $45.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. ValuEngine downgraded shares of Steven Madden from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. BidaskClub downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday. Telsey Advisory Group upped their target price on shares of Steven Madden from $36.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Zacks Investment Research downgraded shares of Steven Madden from a “hold” rating to a “sell” rating and set a $43.00 price objective for the company. in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $40.00.

NASDAQ:SHOO opened at $41.91 on Tuesday. Steven Madden, Ltd. has a 1 year low of $27.88 and a 1 year high of $44.79. The stock’s fifty day moving average price is $40.54 and its two-hundred day moving average price is $34.69. The company has a market cap of $3.57 billion, a P/E ratio of 22.90, a P/E/G ratio of 3.64 and a beta of 0.81.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, October 29th. The textile maker reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The firm had revenue of $497.31 million for the quarter, compared to analysts’ expectations of $487.18 million. Steven Madden had a return on equity of 20.01% and a net margin of 7.71%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. Equities analysts forecast that Steven Madden, Ltd. will post 1.94 earnings per share for the current year.

In other news, CFO Arvind Dharia sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $36.30, for a total value of $272,250.00. Following the transaction, the chief financial officer now directly owns 102,107 shares in the company, valued at $3,706,484.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Amelia Varela sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $41.54, for a total value of $3,323,200.00. Following the completion of the transaction, the president now directly owns 231,276 shares in the company, valued at $9,607,205.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,736 shares of company stock worth $5,898,375. 1.96% of the stock is owned by insiders.

Steven Madden Profile

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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