Ranger Investment Management L.P. Has $23.56 Million Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Ranger Investment Management L.P. increased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 36.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 560,941 shares of the textile maker’s stock after acquiring an additional 150,852 shares during the quarter. Ranger Investment Management L.P. owned about 0.75% of Steven Madden worth $23,560,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SHOO. Quantedge Capital Pte Ltd acquired a new stake in shares of Steven Madden in the fourth quarter valued at approximately $979,000. First Trust Advisors LP raised its holdings in Steven Madden by 13.8% in the 4th quarter. First Trust Advisors LP now owns 613,449 shares of the textile maker’s stock valued at $25,765,000 after acquiring an additional 74,225 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Steven Madden by 1.4% during the 4th quarter. Eagle Asset Management Inc. now owns 319,222 shares of the textile maker’s stock valued at $13,407,000 after acquiring an additional 4,504 shares during the period. Harvest Investment Services LLC acquired a new stake in shares of Steven Madden during the 4th quarter worth $417,000. Finally, Corient Private Wealth LLC bought a new position in shares of Steven Madden in the fourth quarter worth $809,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Insider Buying and Selling

In related news, Director Rose Peabody Lynch sold 1,600 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the completion of the transaction, the director now directly owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Rose Peabody Lynch sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now owns 21,303 shares in the company, valued at approximately $946,066.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Keith sold 2,400 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.73, for a total transaction of $100,152.00. Following the sale, the executive vice president now owns 20,687 shares of the company’s stock, valued at $863,268.51. The disclosure for this sale can be found here. Insiders have sold a total of 69,746 shares of company stock valued at $2,934,441 over the last 90 days. 2.08% of the stock is owned by insiders.

Steven Madden Price Performance

SHOO stock traded down $0.78 during midday trading on Friday, reaching $44.53. 572,515 shares of the stock were exchanged, compared to its average volume of 491,944. Steven Madden, Ltd. has a 52 week low of $30.35 and a 52 week high of $45.91. The company has a fifty day moving average price of $41.36 and a 200 day moving average price of $41.55. The stock has a market capitalization of $3.27 billion, a PE ratio of 18.40 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. The company had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, analysts anticipate that Steven Madden, Ltd. will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.89%. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Wall Street Analyst Weigh In

SHOO has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. BTIG Research upped their target price on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Wedbush restated a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research report on Friday, May 17th. Finally, Piper Sandler assumed coverage on Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.38.

Steven Madden Company 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.