Short Interest in Steven Madden, Ltd. (NASDAQ:SHOO) Drops By 23.2%

Steven Madden, Ltd. (NASDAQ:SHOO) was the recipient of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 4,453,719 shares, a decrease of 23.2% from the January 15th total of 5,796,238 shares. Approximately 6.3% of the company’s stock are sold short. Based on an average trading volume of 1,328,438 shares, the days-to-cover ratio is presently 3.4 days. Based on an average trading volume of 1,328,438 shares, the days-to-cover ratio is presently 3.4 days. Approximately 6.3% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SHOO. Zacks Research downgraded shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. BTIG Research restated a “buy” rating and set a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 5th. UBS Group reaffirmed a “neutral” rating and set a $43.00 target price on shares of Steven Madden in a research report on Tuesday, December 9th. Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Thursday, February 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.63.

Steven Madden Stock Performance

Shares of NASDAQ SHOO traded down $0.04 during trading on Friday, reaching $39.19. The stock had a trading volume of 1,575,523 shares, compared to its average volume of 1,800,819. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.91. The stock has a market cap of $2.85 billion, a PE ratio of 49.61 and a beta of 1.11. Steven Madden has a one year low of $19.05 and a one year high of $46.88. The firm’s 50 day moving average price is $42.91 and its two-hundred day moving average price is $36.56.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently added to or reduced their stakes in SHOO. Public Employees Retirement System of Ohio lifted its holdings in shares of Steven Madden by 13.9% in the third quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker’s stock valued at $78,000 after buying an additional 283 shares during the period. Oregon Public Employees Retirement Fund raised its position in Steven Madden by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,640 shares of the textile maker’s stock worth $693,000 after acquiring an additional 300 shares in the last quarter. First Horizon Corp raised its position in Steven Madden by 55.1% in the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after acquiring an additional 317 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Steven Madden by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 53,404 shares of the textile maker’s stock valued at $1,281,000 after acquiring an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Steven Madden by 4.1% during the 4th quarter. GAMMA Investing LLC now owns 10,076 shares of the textile maker’s stock valued at $420,000 after purchasing an additional 396 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

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.