Steven Madden, Ltd. (NASDAQ:SHOO) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 1,845,469 shares, a decline of 25.4% from the February 28th total of 2,473,719 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average trading volume of 469,573 shares, the days-to-cover ratio is currently 3.9 days.
Steven Madden (NASDAQ:SHOO) opened at 38.00 on Tuesday. Steven Madden has a one year low of $31.68 and a one year high of $40.55. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 18.72 and a beta of 0.43. The company has a 50-day moving average of $37.07 and a 200-day moving average of $36.17.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. Steven Madden had a net margin of 8.11% and a return on equity of 16.26%. The company had revenue of $336.40 million for the quarter, compared to analyst estimates of $338.19 million. During the same period in the prior year, the company posted $0.43 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts forecast that Steven Madden will post $2.18 EPS for the current fiscal year.
In other news, CEO Edward R. Rosenfeld sold 27,500 shares of Steven Madden stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $36.73, for a total transaction of $1,010,075.00. Following the completion of the transaction, the chief executive officer now directly owns 495,978 shares in the company, valued at $18,217,271.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karla Frieders sold 10,600 shares of Steven Madden stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $37.59, for a total transaction of $398,454.00. Following the transaction, the insider now owns 79,269 shares of the company’s stock, valued at $2,979,721.71. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SHOO. Pacad Investment Ltd. purchased a new stake in Steven Madden during the fourth quarter worth $154,000. Tudor Investment Corp Et Al bought a new position in shares of Steven Madden during the fourth quarter worth approximately $204,000. Envestnet Asset Management Inc. increased its position in shares of Steven Madden by 15.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,823 shares of the company’s stock worth $208,000 after buying an additional 765 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Steven Madden during the fourth quarter worth approximately $260,000. Finally, A.R.T. Advisors LLC bought a new position in shares of Steven Madden during the fourth quarter worth approximately $457,000. 95.13% of the stock is currently owned by institutional investors.
SHOO has been the subject of several recent research reports. Zacks Investment Research lowered shares of Steven Madden from a “hold” rating to a “sell” rating in a report on Thursday, January 5th. Citigroup Inc reiterated a “focus list” rating on shares of Steven Madden in a report on Tuesday, March 7th. Canaccord Genuity set a $40.00 target price on shares of Steven Madden and gave the company a “buy” rating in a report on Saturday, January 28th. Piper Jaffray Companies upgraded shares of Steven Madden from a “neutral” rating to an “overweight” rating and set a $41.00 target price for the company in a report on Thursday, February 23rd. Finally, Wells Fargo & Co initiated coverage on shares of Steven Madden in a report on Tuesday, December 6th. They set a “market perform” rating and a $39.00 target price for the company. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $41.00.
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Steven Madden Company Profile
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