Ranger Investment Management Lowers stake in Steven Madden Ltd. (SHOO)

Steven Madden Ltd. (SHOO) : Ranger Investment Management reduced its stake in Steven Madden Ltd. by 4.16% during the most recent quarter end. The investment management company now holds a total of 1,130,169 shares of Steven Madden Ltd. which is valued at $40,912,118 after selling 49,000 shares in Steven Madden Ltd. , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Steven Madden Ltd. makes up approximately 2.39% of Ranger Investment Management’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd boosted its stake in SHOO in the latest quarter, The investment management firm added 5,638 additional shares and now holds a total of 84,860 shares of Steven Madden Ltd. which is valued at $3,071,932.Texas Permanent School Fund reduced its stake in SHOO by selling 2,078 shares or 4.66% in the most recent quarter. The Hedge Fund company now holds 42,553 shares of SHOO which is valued at $1,540,419. Steven Madden Ltd. makes up approx 0.02% of Texas Permanent School Fund’s portfolio. First Personal Financial Services added SHOO to its portfolio by purchasing 59 company shares during the most recent quarter which is valued at $2,031.Glenmede Trust Co Na reduced its stake in SHOO by selling 809,313 shares or 99.27% in the most recent quarter. The Hedge Fund company now holds 5,936 shares of SHOO which is valued at $205,386.

Steven Madden Ltd. opened for trading at $35.53 and hit $36.075 on the upside on Monday, eventually ending the session at $36.07, with a gain of 1.52% or 0.54 points. The heightened volatility saw the trading volume jump to 2,64,399 shares. Company has a market cap of $2,210 M.

On the company’s financial health, Steven Madden Ltd. reported $0.42 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $0.42. The company had revenue of $325.40 million for the quarter, compared to analysts expectations of $330.09 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Steven Madden Ltd.. Susquehanna Initiated Steven Madden Ltd. on Aug 12, 2016 to “Positive”, Price Target of the shares are set at $42.Shares were Reiterated by Telsey Advisory Group on Aug 3, 2016 to “Outperform” and Lowered the Price Target to $ 38 from a previous price target of $40 .Steven Madden Ltd. was Downgraded by Buckingham Research to ” Neutral” on Jul 18, 2016.

Steven Madden Ltd. designs sources markets and sells name brand and private label footwear for women men and children. It operates under five segments which include Wholesale Footwear Wholesale Accessories Retail First Cost and Licensing. Its brands include Madden Girl Steve Madden Men’s Madden Steven Stevies and Steve Madden Kids Betsey Johnson Superga FREEBIRD by Steve Report Mad Love Dolce Vita and Brian Atwood. Its products are marketed through its retail stores and e-commerce Websites as well as department stores specialty stores luxury retailers value priced retailers national chains merchants and catalog retailers throughout the United States Canada Mexico and South Africa. In addition it markets its products in Asia Australia Europe India the Middle East South and Central America and New Zealand. The Company’s subsidiaries include Steven Madden Retail Inc. and BA Brand Holdings LLC among others.

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