Telsey Advisory Group Reaffirms Market Perform Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “market perform” rating reiterated by equities researchers at Telsey Advisory Group in a research note issued to investors on Friday,Benzinga reports. They currently have a $44.00 price objective on the textile maker’s stock. Telsey Advisory Group’s price objective points to a potential upside of 10.92% from the company’s current price.

SHOO has been the subject of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday. Piper Sandler cut their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Citigroup lowered their price target on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Steven Madden presently has an average rating of “Hold” and an average price target of $43.33.

Steven Madden Stock Performance

Steven Madden stock opened at $39.67 on Friday. The business’s 50-day simple moving average is $41.39 and its 200-day simple moving average is $43.92. Steven Madden has a 52 week low of $36.40 and a 52 week high of $50.01. The firm has a market capitalization of $2.86 billion, a PE ratio of 16.88 and a beta of 1.07.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC grew its position in Steven Madden by 4.4% during the 4th quarter. MetLife Investment Management LLC now owns 43,671 shares of the textile maker’s stock worth $1,857,000 after acquiring an additional 1,833 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Steven Madden by 36.9% during the fourth 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 during the last quarter. PEAK6 LLC acquired a new stake in shares of Steven Madden in the fourth quarter valued at $978,000. Mariner LLC raised its holdings in shares of Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock valued at $202,000 after buying an additional 319 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Steven Madden by 8.6% during the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker’s stock worth $74,217,000 after buying an additional 138,065 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.