Short Interest in Steven Madden, Ltd. (NASDAQ:SHOO) Declines By 16.6%

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,610,000 shares, a decline of 16.6% from the March 15th total of 4,330,000 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,430,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SHOO. Vanguard Group Inc. lifted its holdings in shares of Steven Madden by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock valued at $344,299,000 after acquiring an additional 54,877 shares in the last quarter. First Trust Advisors LP raised its position in Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after purchasing an additional 539,738 shares during the period. Invesco Ltd. lifted its stake in shares of Steven Madden by 8.6% during the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock worth $74,217,000 after purchasing an additional 138,065 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Steven Madden in the fourth quarter worth about $72,795,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Steven Madden by 29.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock valued at $39,907,000 after buying an additional 332,689 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Trading Down 1.7 %

Shares of NASDAQ SHOO traded down $0.36 on Friday, reaching $20.80. 793,098 shares of the company traded hands, compared to its average volume of 931,154. The stock has a market capitalization of $1.51 billion, a PE ratio of 8.85 and a beta of 0.98. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The company has a 50 day moving average of $26.74 and a 200 day moving average of $37.50.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. As a group, research analysts expect that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 4.04%. Steven Madden's payout ratio is 35.74%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup reduced their price target on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Piper Sandler cut their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Telsey Advisory Group dropped their price objective on Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a research report on Thursday, February 27th. UBS Group reduced their target price on shares of Steven Madden from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Steven Madden currently has an average rating of "Hold" and a consensus price target of $35.57.

Steven Madden Company Profile

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.