Steven Madden, Ltd. (NASDAQ:SHOO) Short Interest Down 16.6% in March

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) was the target of a significant decline in short interest in 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 sold short. Based on an average trading volume of 1,430,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division grew its position in shares of Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker's stock valued at $179,000 after purchasing an additional 290 shares during the period. Mariner LLC increased its position in shares of Steven Madden by 7.2% during the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after acquiring an additional 319 shares in the last quarter. Moran Wealth Management LLC raised its holdings in shares of Steven Madden by 1.6% during the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker's stock worth $898,000 after acquiring an additional 325 shares during the period. Blue Trust Inc. raised its holdings in shares of Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after acquiring an additional 339 shares during the period. Finally, Tidal Investments LLC lifted its position in Steven Madden by 2.4% in the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock valued at $756,000 after acquiring an additional 409 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Price Performance

Shares of SHOO stock traded down $0.36 during trading hours on Friday, reaching $20.80. The company had a trading volume of 793,098 shares, compared to its average volume of 931,743. Steven Madden has a 1-year low of $19.05 and a 1-year high of $50.01. The company has a 50 day moving average of $26.36 and a 200 day moving average of $37.32. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 8.85 and a beta of 0.98.

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

Steven Madden Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Thursday, February 27th. Citigroup cut their price objective on Steven Madden from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Telsey Advisory Group decreased their target price on Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. UBS Group cut their price target on Steven Madden from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Loop Capital reduced their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.