Needham & Company LLC Reaffirms “Hold” Rating for Steven Madden (NASDAQ:SHOO)

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

SHOO has been the topic of several other reports. Telsey Advisory Group reduced their target price on Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a report on Tuesday, February 4th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup dropped their price objective on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, Piper Sandler dropped their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.33.

Steven Madden Price Performance

Shares of SHOO opened at $39.63 on Thursday. The company has a market capitalization of $2.86 billion, a P/E ratio of 16.86 and a beta of 1.07. Steven Madden has a one year low of $36.40 and a one year high of $50.01. The business’s 50 day simple moving average is $41.29 and its 200-day simple moving average is $43.89.

Institutional Trading of Steven Madden

Institutional investors and hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP bought a new stake in shares of Steven Madden during the 3rd quarter valued at $36,000. Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden during the 3rd quarter valued at $59,000. R Squared Ltd bought a new stake in shares of Steven Madden during the 4th quarter valued at $55,000. Quarry LP raised its position in shares of Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after acquiring an additional 785 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

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.