Steven Madden, Ltd. (NASDAQ:SHOO) Short Interest Update

Steven Madden, Ltd. (NASDAQ:SHOO) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,940,000 shares, a growth of 33.8% from the March 31st total of 1,450,000 shares. Based on an average daily trading volume, of 606,800 shares, the short-interest ratio is presently 3.2 days. Approximately 2.5% of the shares of the stock are short sold.

SHOO has been the subject of a number of research analyst reports. Zacks Investment Research lowered Steven Madden from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Friday, February 26th. Telsey Advisory Group increased their price objective on shares of Steven Madden from $39.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday, April 29th. B. Riley boosted their target price on shares of Steven Madden from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. Finally, Citigroup lifted their price objective on shares of Steven Madden from $38.00 to $42.00 in a report on Thursday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Steven Madden has a consensus rating of “Hold” and an average price target of $32.27.

Steven Madden stock traded up $0.30 during mid-day trading on Tuesday, hitting $42.34. The company’s stock had a trading volume of 9,878 shares, compared to its average volume of 611,271. Steven Madden has a 1 year low of $17.83 and a 1 year high of $42.63. The firm has a market capitalization of $3.51 billion, a PE ratio of -135.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The stock’s fifty day moving average is $38.70 and its two-hundred day moving average is $34.31.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, April 28th. The textile maker reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.16. The company had revenue of $361.00 million for the quarter, compared to analysts’ expectations of $333.33 million. Steven Madden had a negative net margin of 1.84% and a positive return on equity of 7.90%. Steven Madden’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, analysts predict that Steven Madden will post 0.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Tuesday, June 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.42%. Steven Madden’s dividend payout ratio is presently 30.77%.

In other Steven Madden news, CFO Zine Mazouzi sold 1,703 shares of the firm’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $37.91, for a total transaction of $64,560.73. Following the sale, the chief financial officer now owns 46,558 shares in the company, valued at $1,765,013.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karla Frieders sold 5,500 shares of the company’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $37.80, for a total value of $207,900.00. Following the completion of the transaction, the insider now owns 130,599 shares of the company’s stock, valued at $4,936,642.20. The disclosure for this sale can be found here. Insiders sold 34,203 shares of company stock worth $1,287,661 in the last quarter. 1.90% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Neumeier Poma Investment Counsel LLC grew its holdings in shares of Steven Madden by 13.5% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 820,150 shares of the textile maker’s stock valued at $28,968,000 after purchasing an additional 97,538 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Steven Madden by 44.0% in the fourth quarter. Nuveen Asset Management LLC now owns 800,302 shares of the textile maker’s stock valued at $28,267,000 after purchasing an additional 244,551 shares during the period. JPMorgan Chase & Co. grew its stake in Steven Madden by 83.7% during the 4th quarter. JPMorgan Chase & Co. now owns 299,305 shares of the textile maker’s stock worth $10,572,000 after purchasing an additional 136,338 shares in the last quarter. Susquehanna International Group LLP raised its position in Steven Madden by 216.7% in the 4th quarter. Susquehanna International Group LLP now owns 88,070 shares of the textile maker’s stock valued at $3,111,000 after purchasing an additional 60,260 shares in the last quarter. Finally, Vantage Consulting Group Inc purchased a new position in shares of Steven Madden in the 4th quarter valued at about $36,000. Institutional investors own 92.17% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Steven, Steve Madden Kids, Betsey Johnson, Report, Mad Love, Blondo, GREATS, and Anne Klein brands, as well as private label footwear.

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