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

Steven Madden, Ltd. (NASDAQ:SHOO) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 4,453,719 shares, a decline of 23.2% from the January 15th total of 5,796,238 shares. Approximately 6.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,328,438 shares, the days-to-cover ratio is presently 3.4 days. Based on an average daily trading volume, of 1,328,438 shares, the days-to-cover ratio is presently 3.4 days. Approximately 6.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in shares of Steven Madden during the first quarter valued at $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Steven Madden by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker’s stock valued at $1,143,000 after acquiring an additional 1,437 shares during the period. Millennium Management LLC boosted its holdings in shares of Steven Madden by 1,170.4% during the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after acquiring an additional 568,477 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Steven Madden by 5.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker’s stock worth $5,388,000 after acquiring an additional 10,603 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Steven Madden by 273.1% during the first quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker’s stock valued at $4,196,000 after purchasing an additional 115,284 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Down 0.1%

Shares of SHOO stock traded down $0.04 during trading hours on Monday, hitting $39.19. 1,575,523 shares of the company’s stock traded hands, compared to its average volume of 1,835,618. Steven Madden has a 12-month low of $19.05 and a 12-month high of $46.88. The company has a quick ratio of 1.08, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $42.91 and its two-hundred day simple moving average is $36.65. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 49.61 and a beta of 1.11.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group lowered 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. Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a research note on Thursday, February 5th. UBS Group reiterated a “neutral” rating and issued a $43.00 price objective on shares of Steven Madden in a report on Tuesday, December 9th. Finally, Wall Street Zen upgraded Steven Madden from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.