Steven Madden, Ltd. (NASDAQ:SHOO) Sees Large Drop in Short Interest

Steven Madden, Ltd. (NASDAQ:SHOO) saw a large decrease in short interest in February. As of February 13th, there was short interest totaling 3,376,499 shares, a decrease of 24.2% from the January 29th total of 4,453,719 shares. Based on an average daily volume of 2,373,917 shares, the short-interest ratio is presently 1.4 days. Approximately 4.8% of the company’s shares are sold short. Approximately 4.8% of the company’s shares are sold short. Based on an average daily volume of 2,373,917 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analyst Weigh In

SHOO has been the topic of several recent analyst reports. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday. Jefferies Financial Group downgraded shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research report on Thursday, February 5th. UBS Group reissued a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. Piper Sandler upped their price objective on shares of Steven Madden from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.43.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MidFirst Bank bought a new position in shares of Steven Madden in the fourth quarter worth $217,000. Invesco Ltd. lifted its holdings in Steven Madden by 15.2% during the 4th quarter. Invesco Ltd. now owns 2,784,943 shares of the textile maker’s stock worth $115,965,000 after purchasing an additional 367,459 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Steven Madden in the fourth quarter valued at approximately $214,000. Summit Global Investments purchased a new position in shares of Steven Madden during the 4th quarter valued at $212,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Steven Madden in the 4th quarter valued at about $390,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

Steven Madden stock traded down $0.75 during trading on Monday, hitting $35.35. The stock had a trading volume of 376,949 shares, compared to its average volume of 1,607,733. The stock’s 50 day moving average is $41.81 and its two-hundred day moving average is $37.55. Steven Madden has a 1 year low of $19.05 and a 1 year high of $46.88. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 57.09 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The firm had revenue of $753.70 million for the quarter, compared to analysts’ expectations of $758.53 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, analysts predict that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, March 11th. Steven Madden’s dividend payout ratio is presently 135.48%.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.