Cortina Asset Management LLC Has $29,114,000 Position in Steven Madden, Ltd. (SHOO)

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.

Institutional Ownership by Quarter for Steven Madden (NASDAQ:SHOO)

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

5 Day Chart for NASDAQ:SHOO

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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