Hussman Strategic Advisors Inc. Buys 42,000 Shares of Steven Madden, Ltd. (NASDAQ:SHOO)

Hussman Strategic Advisors Inc. boosted its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 100.0% during the first quarter, Holdings Channel.com reports. The firm owned 84,000 shares of the textile maker’s stock after purchasing an additional 42,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Steven Madden were worth $2,238,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. First Trust Advisors LP boosted its position in shares of Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock worth $85,135,000 after purchasing an additional 539,738 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Steven Madden by 46.5% in the first quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker’s stock worth $32,298,000 after acquiring an additional 384,979 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Steven Madden by 29.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker’s stock worth $39,907,000 after acquiring an additional 332,689 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Steven Madden in the fourth quarter worth about $13,652,000. Finally, Norges Bank acquired a new stake in Steven Madden in the fourth quarter worth about $9,399,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SHOO. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price target on shares of Steven Madden in a report on Wednesday, June 4th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd. Citigroup raised Steven Madden from a “neutral” rating to a “buy” rating and raised their price target for the stock from $26.00 to $32.00 in a report on Thursday. UBS Group raised their price target on Steven Madden from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, Piper Sandler lowered their price target on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.00.

Steven Madden Stock Up 1.4%

Shares of Steven Madden stock traded up $0.37 on Friday, reaching $26.50. 227,148 shares of the stock were exchanged, compared to its average volume of 1,527,455. Steven Madden, Ltd. has a twelve month low of $19.05 and a twelve month high of $50.01. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.44 and a beta of 1.10. The business has a 50 day moving average price of $24.93 and a two-hundred day moving average price of $29.06.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. The company had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. During the same period in the previous year, the company posted $0.65 earnings per share. Steven Madden’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Monday, June 9th. Steven Madden’s payout ratio is presently 36.21%.

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.