Steven Madden, Ltd. (NASDAQ:SHOO) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 4,330,000 shares, a drop of 11.3% from the October 31st total of 4,880,000 shares. Approximately 5.6% of the company’s shares are short sold. Based on an average trading volume of 689,300 shares, the short-interest ratio is currently 6.3 days.
In related news, President Amelia Varela sold 6,400 shares of Steven Madden stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $44.19, for a total value of $282,816.00. Following the completion of the transaction, the president now owns 144,876 shares in the company, valued at $6,402,070.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Migliorini sold 3,000 shares of Steven Madden stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.17, for a total value of $108,510.00. Following the completion of the transaction, the director now owns 11,204 shares of the company’s stock, valued at approximately $405,248.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,736 shares of company stock valued at $5,898,375. 1.96% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of SHOO. Arizona State Retirement System raised its stake in shares of Steven Madden by 0.4% during the second quarter. Arizona State Retirement System now owns 121,138 shares of the textile maker’s stock valued at $4,113,000 after acquiring an additional 540 shares in the last quarter. Rothschild & Co. Asset Management US Inc. raised its stake in Steven Madden by 3.1% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 773,932 shares of the textile maker’s stock worth $26,275,000 after buying an additional 22,978 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in Steven Madden by 2.7% in the second quarter. Moody Aldrich Partners LLC now owns 182,897 shares of the textile maker’s stock worth $6,209,000 after buying an additional 4,864 shares in the last quarter. SG Americas Securities LLC raised its stake in Steven Madden by 53.9% in the second quarter. SG Americas Securities LLC now owns 22,648 shares of the textile maker’s stock worth $769,000 after buying an additional 7,929 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in Steven Madden by 3.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 83,959 shares of the textile maker’s stock worth $2,850,000 after buying an additional 2,420 shares in the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on SHOO. Zacks Investment Research lowered Steven Madden from a “hold” rating to a “sell” rating and set a $43.00 target price for the company. in a research report on Wednesday, October 30th. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Loop Capital boosted their target price on Steven Madden to $45.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Telsey Advisory Group boosted their target price on Steven Madden from $36.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, ValuEngine lowered Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Steven Madden has a consensus rating of “Hold” and an average target price of $40.00.
Shares of Steven Madden stock traded down $0.53 on Friday, hitting $42.47. 289,853 shares of the company traded hands, compared to its average volume of 670,828. The stock’s 50 day moving average price is $40.11 and its 200-day moving average price is $34.54. Steven Madden has a 52 week low of $27.88 and a 52 week high of $44.79. The company has a market cap of $3.64 billion, a PE ratio of 21.86, a PEG ratio of 3.72 and a beta of 0.82.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, October 29th. The textile maker reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. Steven Madden had a net margin of 7.71% and a return on equity of 20.01%. The firm had revenue of $497.31 million during the quarter, compared to the consensus estimate of $487.18 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that Steven Madden will post 1.94 EPS for the current fiscal year.
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women’s, Madden Girl, Steve Madden Men’s, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.
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