Steven Madden, Ltd. (NASDAQ:SHOO) was the recipient of a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 2,090,000 shares, a decrease of 19.9% from the November 14th total of 2,610,000 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 640,500 shares, the days-to-cover ratio is currently 3.3 days.
In other Steven Madden news, Director Robert Garrett Smith sold 3,393 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $42.63, for a total value of $144,643.59. Following the completion of the sale, the director now directly owns 11,652 shares of the company’s stock, valued at approximately $496,724.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Amelia Varela sold 80,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $41.54, for a total transaction of $3,323,200.00. Following the transaction, the president now owns 231,276 shares in the company, valued at approximately $9,607,205.04. The disclosure for this sale can be found here. Insiders have sold 132,236 shares of company stock valued at $5,517,615 in the last ninety days. Company insiders own 1.96% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in Steven Madden by 53.9% in the 2nd quarter. SG Americas Securities LLC now owns 22,648 shares of the textile maker’s stock valued at $769,000 after buying an additional 7,929 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Steven Madden by 3.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 83,959 shares of the textile maker’s stock worth $2,850,000 after purchasing an additional 2,420 shares during the last quarter. Aperio Group LLC lifted its position in Steven Madden by 3.3% during the 2nd quarter. Aperio Group LLC now owns 33,838 shares of the textile maker’s stock valued at $1,149,000 after purchasing an additional 1,071 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Steven Madden by 1.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 23,380 shares of the textile maker’s stock valued at $794,000 after purchasing an additional 400 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Steven Madden in the 2nd quarter valued at about $12,004,000. 98.42% of the stock is owned by institutional investors and hedge funds.
NASDAQ SHOO traded down $0.17 during trading hours on Friday, reaching $42.65. 276,161 shares of the company’s stock were exchanged, compared to its average volume of 574,951. The firm has a fifty day moving average of $42.92 and a 200-day moving average of $36.15. Steven Madden has a one year low of $28.95 and a one year high of $44.79. The stock has a market cap of $3.60 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.81.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 29th. The textile maker reported $0.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $497.31 million for the quarter, compared to the consensus estimate of $487.18 million. During the same quarter in the prior year, the company earned $0.65 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Steven Madden will post 1.94 earnings per share for the current fiscal year.
The business also recently declared a dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 13th. Steven Madden’s dividend payout ratio is currently 32.79%.
A number of equities research analysts recently weighed in on SHOO shares. Telsey Advisory Group lifted their target price on Steven Madden from $36.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. BidaskClub upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Steven Madden from a “buy” rating to a “hold” rating and set a $45.00 target price on the stock. in a research report on Tuesday, December 10th. ValuEngine lowered shares of Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Loop Capital upped their price target on Steven Madden to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.71.
About Steven Madden
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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