Steven Madden, Ltd. (NASDAQ:SHOO) Short Interest Up 28.1% in March

Steven Madden, Ltd. (NASDAQ:SHOO) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 4,720,037 shares, an increase of 28.1% from the February 26th total of 3,685,468 shares. Based on an average daily volume of 1,356,573 shares, the short-interest ratio is currently 3.5 days. Currently, 6.6% of the shares of the stock are sold short.

Insider Activity

In related news, Director Arian Simone Reed sold 3,600 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the sale, the director directly owned 8,705 shares in the company, valued at $291,095.20. The trade was a 29.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds have recently modified their holdings of SHOO. Vanguard Group Inc. boosted its position in Steven Madden by 2.5% during the third quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock valued at $277,342,000 after purchasing an additional 200,013 shares during the last quarter. Wellington Management Group LLP increased its position in Steven Madden by 18.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker’s stock worth $115,613,000 after purchasing an additional 528,829 shares during the last quarter. Invesco Ltd. raised its stake in shares of 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. Capital Research Global Investors raised its stake in shares of Steven Madden by 14.0% during the 3rd quarter. Capital Research Global Investors now owns 2,720,354 shares of the textile maker’s stock worth $91,077,000 after purchasing an additional 334,058 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Steven Madden by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker’s stock valued at $82,046,000 after buying an additional 41,947 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Price Performance

Shares of SHOO opened at $33.11 on Monday. The business’s 50-day moving average is $37.75 and its 200-day moving average is $38.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 53.40 and a beta of 1.13. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $753.70 million during the quarter, compared to analysts’ expectations of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. Equities research analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.5%. Steven Madden’s dividend payout ratio (DPR) is 135.48%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. BTIG Research restated a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. Williams Trading set a $48.00 price objective on Steven Madden in a research note on Tuesday, March 10th. Telsey Advisory Group restated an “outperform” rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday, February 26th. Needham & Company LLC cut their target price on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price for the company. in a report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Steven Madden Company Profile

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.