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

Steven Madden, Ltd. (NASDAQ:SHOO) was the target of a significant decrease in short interest during 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. Based on an average daily volume of 1,328,438 shares, the short-interest ratio is currently 3.4 days. Currently, 6.3% of the shares of the stock are sold short. Currently, 6.3% of the shares of the stock are sold short. Based on an average daily volume of 1,328,438 shares, the short-interest ratio is currently 3.4 days.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds have recently modified their holdings of SHOO. Vanguard Group Inc. grew its stake in Steven Madden by 2.5% in the third quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock valued at $277,342,000 after purchasing an additional 200,013 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Steven Madden by 18.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker’s stock valued at $115,613,000 after buying an additional 528,829 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Steven Madden by 14.0% in the 3rd quarter. Capital Research Global Investors now owns 2,720,354 shares of the textile maker’s stock valued at $91,077,000 after buying an additional 334,058 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Steven Madden by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker’s stock valued at $82,046,000 after buying an additional 41,947 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Steven Madden by 50.5% in the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after buying an additional 814,318 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Stock Down 0.1%

Shares of NASDAQ SHOO traded down $0.04 during mid-day trading on Friday, reaching $39.19. The company 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 company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 49.61 and a beta of 1.11. The stock has a fifty day moving average of $42.91 and a two-hundred day moving average of $36.56. Steven Madden has a 12-month low of $19.05 and a 12-month high of $46.88.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Steven Madden from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Steven Madden in a report on Wednesday, February 4th. BTIG Research restated a “buy” rating and set a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 5th. UBS Group reaffirmed a “neutral” rating and set a $43.00 price objective on shares of Steven Madden in a research note on Tuesday, December 9th. Finally, Piper Sandler raised their target price on shares of Steven Madden from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and an average price target of $43.63.

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.