Steven Madden Ltd. (NASDAQ:SHOO) dropped 2.6% during trading on Tuesday . The company traded as low as $35.13 and last traded at $35.15, with a volume of 85,115 shares trading hands. The stock had previously closed at $36.07.

SHOO has been the subject of a number of research reports. BB&T Corp. reaffirmed a “hold” rating on shares of Steven Madden in a report on Saturday, June 11th. Zacks Investment Research upgraded shares of Steven Madden from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Canaccord Genuity reiterated a “buy” rating and set a $42.00 price target on shares of Steven Madden in a research note on Wednesday, June 8th. Susquehanna began coverage on shares of Steven Madden in a research note on Friday, August 12th. They set a “positive” rating and a $42.00 price target on the stock. Finally, Buckingham Research lowered shares of Steven Madden from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $36.00 in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.82.

The stock’s 50 day moving average is $35.42 and its 200 day moving average is $35.03. The firm has a market cap of $2.14 billion and a P/E ratio of 18.48.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The business earned $325.40 million during the quarter, compared to analyst estimates of $329.54 million. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. On average, analysts expect that Steven Madden Ltd. will post $1.99 EPS for the current fiscal year.

In other news, Director Richard P. Randall sold 3,125 shares of Steven Madden stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $35.33, for a total value of $110,406.25. Following the transaction, the director now owns 26,425 shares of the company’s stock, valued at approximately $933,595.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rose Peabody Lynch sold 1,722 shares of Steven Madden stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $34.34, for a total transaction of $59,133.48. Following the completion of the transaction, the director now directly owns 6,994 shares in the company, valued at approximately $240,173.96. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Steven Madden stock. Morgan Stanley boosted its stake in Steven Madden Ltd. (NASDAQ:SHOO) by 538.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 379,668 shares of the company’s stock after buying an additional 320,233 shares during the period. Morgan Stanley owned 0.61% of Steven Madden worth $11,474,000 as of its most recent SEC filing.

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