Short Interest in Steven Madden, Ltd. (NASDAQ:SHOO) Expands By 37.7% – MarketBeat

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Steven Madden, Ltd. (NASDAQ:SHOOGet Rating) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 3,690,000 shares, a growth of 37.7% from the July 15th total of 2,680,000 shares. Currently, 5.0% of the shares of the stock are short sold. Based on an average daily volume of 869,400 shares, the days-to-cover ratio is currently 4.2 days.

Steven Madden Stock Performance

Shares of NASDAQ SHOO traded down $0.04 during midday trading on Friday, hitting $33.69. The company’s stock had a trading volume of 409,701 shares, compared to its average volume of 887,618. Steven Madden has a 1-year low of $31.06 and a 1-year high of $51.56. The firm’s fifty day moving average price is $33.69 and its 200-day moving average price is $37.80. The firm has a market cap of $2.66 billion, a P/E ratio of 10.56 and a beta of 1.07.
Steven Madden (NASDAQ:SHOOGet Rating) last posted its earnings results on Wednesday, July 27th. The textile maker reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $532.68 million during the quarter, compared to analyst estimates of $491.80 million. Steven Madden had a net margin of 11.61% and a return on equity of 31.40%. Steven Madden’s revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 EPS. As a group, research analysts predict that Steven Madden will post 2.97 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Friday, September 16th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.49%. Steven Madden’s dividend payout ratio (DPR) is 26.33%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SHOO. B. Riley cut their price target on shares of Steven Madden from $58.00 to $49.00 in a research note on Thursday, July 28th. BTIG Research cut their target price on shares of Steven Madden from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Telsey Advisory Group cut their target price on shares of Steven Madden from $52.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, July 28th. Finally, UBS Group raised their target price on shares of Steven Madden from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Insider Activity

In related news, Director Robert Garrett Smith sold 2,222 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $38.96, for a total transaction of $86,569.12. Following the sale, the director now owns 8,500 shares in the company, valued at $331,160. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently made changes to their positions in SHOO. CWM LLC raised its position in shares of Steven Madden by 277.3% during the 1st quarter. CWM LLC now owns 664 shares of the textile maker’s stock worth $26,000 after buying an additional 488 shares in the last quarter. FourThought Financial LLC raised its holdings in shares of Steven Madden by 16.0% in the 1st quarter. FourThought Financial LLC now owns 1,792 shares of the textile maker’s stock worth $69,000 after purchasing an additional 247 shares in the last quarter. USA Financial Portformulas Corp bought a new stake in shares of Steven Madden in the 4th quarter worth approximately $121,000. Rockefeller Capital Management L.P. raised its holdings in shares of Steven Madden by 18.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,673 shares of the textile maker’s stock worth $124,000 after purchasing an additional 415 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Steven Madden by 18.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,150 shares of the textile maker’s stock worth $134,000 after purchasing an additional 640 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Steven Madden Company Profile

(Get Rating)
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.

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