Hussman Strategic Advisors Inc. Takes $1.79 Million Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Hussman Strategic Advisors Inc. purchased a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) during the 4th quarter, Holdings Channel reports. The fund purchased 42,000 shares of the textile maker’s stock, valued at approximately $1,786,000.

Several other hedge funds have also recently added to or reduced their stakes in SHOO. Gladius Capital Management LP acquired a new position in Steven Madden in the third quarter valued at about $36,000. R Squared Ltd acquired a new position in Steven Madden in the fourth quarter valued at about $55,000. Exchange Traded Concepts LLC acquired a new position in Steven Madden in the third quarter valued at about $59,000. Blue Trust Inc. lifted its stake in Steven Madden by 94.1% in the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after buying an additional 785 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in 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 buying an additional 1,872 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $39.30 on Thursday. The stock has a 50-day simple moving average of $41.04 and a 200 day simple moving average of $43.80. The company has a market cap of $2.84 billion, a PE ratio of 16.72 and a beta of 1.07. Steven Madden, Ltd. has a 52-week low of $36.40 and a 52-week high of $50.01.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.14%. Steven Madden’s dividend payout ratio is 35.74%.

Analyst Ratings Changes

SHOO has been the topic of several analyst reports. Piper Sandler cut their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, February 13th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday, February 14th. Finally, Citigroup dropped their price target on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Steven Madden has an average rating of “Hold” and an average target price of $43.33.

About Steven Madden

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.