Cortina Asset Management LLC cut its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 7.1% during the fourth quarter, Holdings Channel reports. The fund owned 814,391 shares of the company’s stock after selling 62,012 shares during the period. Steven Madden makes up 1.2% of Cortina Asset Management LLC’s holdings, making the stock its 8th largest position. Cortina Asset Management LLC owned approximately 1.34% of Steven Madden worth $29,114,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of SHOO. Mesirow Financial Investment Management Equity Management bought a new stake in Steven Madden during the second quarter worth $21,335,000. Vaughan Nelson Investment Management L.P. bought a new stake in Steven Madden during the third quarter worth $20,161,000. Victory Capital Management Inc. increased its stake in Steven Madden by 73.1% in the third quarter. Victory Capital Management Inc. now owns 882,024 shares of the company’s stock worth $30,483,000 after buying an additional 372,523 shares during the last quarter. SG Capital Management LLC bought a new stake in Steven Madden during the second quarter worth $9,234,000. Finally, BlackRock Fund Advisors increased its stake in Steven Madden by 6.7% in the third quarter. BlackRock Fund Advisors now owns 3,990,793 shares of the company’s stock worth $137,922,000 after buying an additional 249,238 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.
Steven Madden, Ltd. (NASDAQ:SHOO) traded down 1.63% during mid-day trading on Monday, hitting $36.15. 360,558 shares of the stock traded hands. Steven Madden, Ltd. has a 1-year low of $31.01 and a 1-year high of $40.55. The company has a 50-day moving average of $35.33 and a 200 day moving average of $35.69. The firm has a market capitalization of $2.19 billion, a P/E ratio of 18.36 and a beta of 0.43.
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Several research firms recently commented on SHOO. Canaccord Genuity set a $40.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research report on Saturday, January 28th. B. Riley reiterated a “neutral” rating and set a $40.00 target price on shares of Steven Madden in a research report on Wednesday, November 2nd. Piper Jaffray Companies set a $33.00 target price on shares of Steven Madden and gave the stock a “hold” rating in a research report on Tuesday, January 10th. Wells Fargo & Company began coverage on shares of Steven Madden in a research report on Tuesday, December 6th. They set a “market perform” rating and a $39.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Thursday, December 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $38.00.
In other Steven Madden news, insider Karla Frieders sold 27,500 shares of the firm’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $38.79, for a total value of $1,066,725.00. Following the transaction, the insider now directly owns 110,745 shares of the company’s stock, valued at $4,295,798.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Migliorini sold 2,592 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $38.96, for a total value of $100,984.32. Following the completion of the transaction, the director now directly owns 2,977 shares in the company, valued at $115,983.92. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
About Steven Madden
Want to see what other hedge funds are holding SHOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steven Madden, Ltd. (NASDAQ:SHOO).
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