Steven Madden's (SHOO) "Hold" Rating Reaffirmed at Needham & Company LLC

Steven Madden (NASDAQ:SHOO - Get Free Report)'s stock had its "hold" rating reaffirmed by Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

A number of other analysts have also recently weighed in on the stock. Telsey Advisory Group lowered their price target on shares of Steven Madden from $50.00 to $44.00 and set a "market perform" rating on the stock in a report on Tuesday, February 4th. Citigroup lowered their price target on shares of Steven Madden from $45.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Piper Sandler lowered their price target on shares of Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Finally, StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $43.33.

Steven Madden Trading Down 0.1 %

Shares of NASDAQ:SHOO traded down $0.04 during trading on Thursday, reaching $39.63. The stock had a trading volume of 750,031 shares, compared to its average volume of 656,428. Steven Madden has a one year low of $36.40 and a one year high of $50.01. The company has a market capitalization of $2.86 billion, a P/E ratio of 16.86 and a beta of 1.07. The firm's 50-day simple moving average is $41.29 and its 200 day simple moving average is $43.88.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors have recently bought and sold shares of SHOO. ProShare Advisors LLC increased its holdings in shares of Steven Madden by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 21,842 shares of the textile maker's stock valued at $929,000 after purchasing an additional 6,715 shares in the last quarter. Man Group plc grew its stake in Steven Madden by 714.2% in the 4th quarter. Man Group plc now owns 104,914 shares of the textile maker's stock valued at $4,461,000 after acquiring an additional 92,028 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Steven Madden in the 4th quarter valued at $261,000. Millennium Management LLC acquired a new stake in Steven Madden in the 4th quarter valued at $2,065,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Steven Madden by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,482 shares of the textile maker's stock worth $1,764,000 after purchasing an additional 1,818 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

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.