Short Interest in Steven Madden, Ltd. (NASDAQ:SHOO) Expands By 19.0%

Steven Madden, Ltd. (NASDAQ:SHOO) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,940,000 shares, an increase of 19.0% from the June 30th total of 2,470,000 shares. Based on an average daily trading volume, of 649,600 shares, the short-interest ratio is presently 4.5 days. Approximately 4.2% of the company’s stock are sold short.

Insider Transactions at Steven Madden

In other news, insider Karla Frieders sold 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $44.91, for a total value of $449,100.00. Following the completion of the sale, the insider now owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Rose Peabody Lynch sold 1,600 shares of Steven Madden stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the completion of the sale, the director now owns 21,303 shares of the company’s stock, valued at $946,066.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the sale, the insider now directly owns 86,658 shares of the company’s stock, valued at approximately $3,891,810.78. The disclosure for this sale can be found here. Insiders sold a total of 14,600 shares of company stock valued at $651,586 over the last quarter. Company insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SHOO. GAMMA Investing LLC acquired a new position in Steven Madden during the 4th quarter worth $32,000. Blue Trust Inc. lifted its holdings in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Steven Madden during the 1st quarter worth $47,000. International Assets Investment Management LLC raised its position in shares of Steven Madden by 4,100.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 1,599 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Steven Madden during the 1st quarter valued at $81,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SHOO. Wedbush reissued a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research report on Friday. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research note on Thursday. Finally, BTIG Research lifted their price objective on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.38.

Steven Madden Price Performance

Shares of SHOO traded up $1.35 on Friday, hitting $44.02. The company’s stock had a trading volume of 633,349 shares, compared to its average volume of 730,647. The company has a market capitalization of $3.23 billion, a PE ratio of 18.19 and a beta of 1.09. Steven Madden has a fifty-two week low of $30.35 and a fifty-two week high of $45.91. The company has a 50 day moving average price of $43.39 and a 200 day moving average price of $42.24.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The firm had revenue of $552.38 million for the quarter, compared to the consensus estimate of $525.04 million. During the same quarter in the prior year, the business earned $0.50 EPS. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, equities analysts forecast that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Monday, June 10th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Monday, June 10th. Steven Madden’s dividend payout ratio is 34.71%.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.