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

Steven Madden, Ltd. (NASDAQ:SHOOGet Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 3,860,000 shares, a growth of 25.7% from the February 29th total of 3,070,000 shares. Based on an average daily trading volume, of 802,600 shares, the days-to-cover ratio is presently 4.8 days. Currently, 5.5% of the company’s stock are sold short.

Insider Buying and Selling at Steven Madden

In other news, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the transaction, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Steven Madden news, Director Peter Allan Davis sold 1,200 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now directly owns 5,751 shares of the company’s stock, valued at $242,289.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zine Mazouzi sold 7,246 shares of Steven Madden stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the completion of the transaction, the chief financial officer now directly owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The disclosure for this sale can be found here. Insiders have sold 59,346 shares of company stock worth $2,464,841 over the last quarter. 2.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHOO. PNC Financial Services Group Inc. raised its stake in shares of Steven Madden by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock worth $554,000 after buying an additional 761 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Steven Madden by 19.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 463,515 shares of the textile maker’s stock valued at $19,468,000 after buying an additional 75,034 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Steven Madden by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 126,762 shares of the textile maker’s stock worth $5,325,000 after acquiring an additional 3,712 shares during the period. GSA Capital Partners LLP bought a new stake in Steven Madden in the fourth quarter worth about $257,000. Finally, Vident Advisory LLC acquired a new stake in Steven Madden during the fourth quarter valued at approximately $212,000. 99.88% of the stock is owned by institutional investors.

Steven Madden Stock Performance

Shares of SHOO opened at $42.28 on Monday. Steven Madden has a one year low of $29.92 and a one year high of $45.63. The stock’s fifty day moving average is $42.35 and its 200-day moving average is $38.63. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 18.38 and a beta of 1.16.

Steven Madden (NASDAQ:SHOOGet Free Report) last released its earnings results on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The firm had revenue of $519.71 million for the quarter, compared to analysts’ expectations of $511.96 million. During the same quarter last year, the company earned $0.44 EPS. Steven Madden’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts forecast that Steven Madden will post 2.61 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.84 annualized dividend and a yield of 1.99%. Steven Madden’s payout ratio is 36.52%.

Analysts Set New Price Targets

SHOO has been the topic of a number of research reports. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price target on shares of Steven Madden in a research report on Thursday, January 4th. Citigroup upped their price objective on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Telsey Advisory Group upped their price target on shares of Steven Madden from $39.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Finally, Williams Trading reiterated a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.38.

Get Our Latest Analysis on SHOO

Steven Madden Company Profile

(Get Free Report)

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.

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