Ranger Investment Management L.P. has increased its holdings in shares of Steven Madden, Ltd. (NASDAQ:SHOO) by 36.8% during the fourth quarter, according to the company's Form 13F filing with the Securities and Exchange Commission. The firm now owns 560,941 shares of the textile maker's stock worth $23,560,000. Several other hedge funds and institutional investors have also bought and sold shares of SHOO. In related news, Director Rose Peabody Lynch sold 1,600 shares of the firm's stock in a transaction on June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Insiders have sold a total of 69,746 shares of company stock valued at $2,934,441 over the last 90 days [005dd350].
Steven Madden, Ltd. reported earnings of $0.65 per share for the quarter, beating the consensus estimate of $0.56. The company had revenue of $552.38 million for the quarter, compared to analysts' expectations of $525.04 million. Steven Madden also declared a quarterly dividend of $0.21 per share, payable on June 21st to shareholders of record on June 10th. The stock has a 52-week low of $30.35 and a 52-week high of $45.91. The company has a market capitalization of $3.27 billion and a PE ratio of 18.40. Six analysts have rated the stock as a hold and two have assigned a buy rating. The average price target is $43.38 [005dd350].