Shares of Steven Madden Ltd. (NASDAQ:SHOO) traded down 2.6% during mid-day trading on Tuesday . The stock 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.

Several analysts recently issued reports on the company. Zacks Investment Research raised Steven Madden from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Buckingham Research downgraded Steven Madden from a “buy” rating to a “neutral” rating and decreased their target price for the company from $40.00 to $36.00 in a research note on Monday, July 18th. Susquehanna assumed coverage on Steven Madden in a research note on Friday, August 12th. They set a “positive” rating and a $42.00 target price on the stock. B. Riley downgraded Steven Madden from a “buy” rating to a “neutral” rating and decreased their target price for the company from $47.00 to $40.00 in a research note on Monday, August 1st. Finally, Piper Jaffray Cos. reissued a “hold” rating and set a $34.00 target price on shares of Steven Madden in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.82.

The company has a market capitalization of $2.11 billion and a PE ratio of 18.26. The company has a 50-day moving average price of $35.37 and a 200 day moving average price of $35.03.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The company earned $325.40 million during the quarter, compared to analysts’ expectations of $329.54 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts forecast that Steven Madden Ltd. will post $1.99 earnings per share for the current year.

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

A hedge fund recently raised its stake in Steven Madden stock. Morgan Stanley raised its position in Steven Madden Ltd. (NASDAQ:SHOO) by 538.8% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 379,668 shares of the company’s stock after buying an additional 320,233 shares during the period. Morgan Stanley owned approximately 0.61% of Steven Madden worth $11,474,000 at the end of the most recent quarter.

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