Steven Madden, Ltd. (NASDAQ:SHOO) Sees Large Drop in Short Interest

Steven Madden, Ltd. (NASDAQ:SHOO) saw a large drop in short interest in February. As of February 13th, there was short interest totaling 3,376,499 shares, a drop of 24.2% from the January 29th total of 4,453,719 shares. Approximately 4.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,373,917 shares, the short-interest ratio is presently 1.4 days. Based on an average daily trading volume, of 2,373,917 shares, the short-interest ratio is presently 1.4 days. Approximately 4.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its stake in Steven Madden by 86.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 485 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Steven Madden during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new position in Steven Madden during the third quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its holdings in Steven Madden by 1,064.3% in the fourth quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock worth $34,000 after purchasing an additional 745 shares during the last quarter. Finally, First Horizon Corp grew its position in Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after purchasing an additional 317 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Down 2.1%

NASDAQ:SHOO traded down $0.75 during mid-day trading on Monday, hitting $35.35. 376,949 shares of the company’s stock were exchanged, compared to its average volume of 1,607,733. The company has a market cap of $2.57 billion, a PE ratio of 57.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. Steven Madden has a one year low of $19.05 and a one year high of $46.88. The business has a fifty day moving average price of $41.81 and a 200 day moving average price of $37.55.

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

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. Steven Madden’s dividend payout ratio (DPR) is presently 135.48%.

Wall Street Analyst Weigh In

SHOO has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Jefferies Financial Group cut shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target for the company. in a research report on Thursday, February 5th. Telsey Advisory Group reiterated an “outperform” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Thursday. Piper Sandler raised their price target on Steven Madden from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, BTIG Research restated a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Steven Madden presently has an average rating of “Hold” and an average price target of $43.43.

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.