1,643K shares changed hands on Tuesday. Trading volume was up 240.02% over the stocks average daily volume.
Short traders are more bullish of late considering the motion in short interest. The company saw a fall in short interest from September 29, 2017 to October 13, 2017 of -1.29%. Short shares fell 34,202 over that timeframe. With short interest at 2,608,741 and short average daily volume at 385,295, the short-interest ratio is 7.0 and the percentage of shorted shares was 0.05% on October 13.
A few notable investment firms have updated their holdings. As of the end of the quarter Nationwide Fund Advisors had disposed of 55,321 shares trimming its stake by 43.6%. The value of the investment in Steven Madden, Ltd. decreased from $5,064,000 to $3,093,000 decreasing 38.9% since the last quarter. Parkside Financial Bank & Trust cut its ownership by shedding 29 shares a decrease of 3.0% as of 09/30/2017. Parkside Financial Bank & Trust owns 947 shares valued at $41,000. The total value of its holdings increased 5.1%.
As of quarter end Aperio Group, LLC had bought a total of 1,760 shares growing its position 8.2%. The value of the total investment in Steven Madden, Ltd. went from $858,000 to $1,006,000 a change of $148,000 for the reporting period. As of the end of the quarter Parametrica Management Ltd had acquired 1,626 shares growing its holdings by 25.1%. The value of the investment in SHOO increased from $250,000 to $351,000 a change of 40.4% quarter over quarter.
On August 7 Morgan Stanley made no change to the company rating of “Equal-Weight” but raised the price expectation to $41.50 from $35.00. Equity analyst Wedbush started covering the stock giving it an initial rating of “Outperform”.
The company is trading down since yesterday’s close of $39.00. Company shares last traded at $39.00 a bit lower than the 50 day moving average of $42.12 and barely below the 200 day moving average of $40.23. The 50 day moving average moved down $-3.12 whereas the 200 day moving average was down $-1.23 or -3.05%.
Steven Madden, Ltd. currently has a P/E ratio of 18.78 and market capitalization is 2.31B. As of the latest earnings report the EPS was $2.08 and is expected to be $2.25 for the current year with 59,158,000 shares outstanding. Next quarter’s EPS is expected be $0.50 and the next full year EPS is projected to be $2.49.
Steven Madden, Ltd., launched on November 10, 1998, and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing. The Business’s products are sold through its retail stores and e-commerce Websites within the United States, Canada, Mexico and South Africa, as well as department stores, specialty stores, luxury retailers, value priced retailers, national chains, merchants and catalog retailers. It provides merchandising support to its department store customers, including in-store fixtures and signage, supervision of displays and merchandising of its various product lines..