Steven Madden (NASDAQ:SHOO) Earns Hold Rating from Needham & Company LLC

Steven Madden (NASDAQ:SHOO)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

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

Steven Madden Price Performance

NASDAQ SHOO traded up $1.50 during trading on Thursday, reaching $39.13. The company’s stock had a trading volume of 384,221 shares, compared to its average volume of 680,343. The firm has a fifty day moving average of $41.49 and a 200 day moving average of $43.95. The stock has a market capitalization of $2.82 billion, a PE ratio of 16.67 and a beta of 1.07. Steven Madden has a one year low of $36.40 and a one year high of $50.01.

Institutional Trading of Steven Madden

Several large investors have recently added to or reduced their stakes in SHOO. Vanguard Group Inc. grew its position 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 during the period. State Street Corp lifted its position in Steven Madden by 1.7% during the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock valued at $135,020,000 after purchasing an additional 47,017 shares in the last quarter. Invesco Ltd. grew its holdings in Steven Madden by 8.6% during the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker’s stock valued at $74,217,000 after purchasing an additional 138,065 shares during the period. Pacer Advisors Inc. bought a new position in shares of Steven Madden in the fourth quarter worth about $72,795,000. Finally, Geode Capital Management LLC boosted its position in shares of Steven Madden by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after purchasing an additional 49,075 shares during the period. 99.88% of the stock is currently owned by institutional investors.

About Steven Madden

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.