Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Steven Madden Ltd. shares valued at $2,012,144 were sold by Rosenfeld Edward R. on Mar 15 ’24. At $41.49 per share, Rosenfeld Edward R. sold 48,500 shares. The insider’s holdings dropped to 697,038 shares worth approximately $27.34 million following the completion of this transaction.
Also, Mazouzi Zine sold 7,246 shares, netting a total of over 301,836 in proceeds. Following the sale of shares at $41.66 each, the insider now holds 68,785 shares.
Before that, Keith Lisa had sold 2,400 shares from its account. In a trade valued at $100,148, the EVP, Gen. Counsel, Secretary traded Steven Madden Ltd. shares for $41.73 each. Upon closing the transaction, the insider’s holdings decreased to 2,400 shares, worth approximately $0.81 million.
As published in a research note from Telsey Advisory Group on February 29, 2024, Steven Madden Ltd. [SHOO] has been retained to a Market perform and the price target has been revised to $44. Analysts at Piper Sandler started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid February. As of February 07, 2024, Citigroup has decreased its “Buy” rating to a “Neutral” for SHOO. Earlier on January 04, 2024, Jefferies downgraded its rating. Their new recommendation was “a Hold” for SHOO stock which previously was a “a Buy”.
Analyzing SHOO Stock Performance
During the last five days, there has been a drop of approximately -4.11%. Over the course of the year, Steven Madden Ltd. shares have dropped approximately -6.62%. Shares of the company reached a 52-week high of $45.63 on 02/23/24 and a 52-week low of $39.15 on 04/10/24. A 50-day SMA is recorded $41.99, while a 200-day SMA reached $37.27. Nevertheless, trading volume fell to 0.87 million shares from 0.75 million shares the previous day.
Support And Resistance Levels for Steven Madden Ltd. (SHOO)
According to the 24-hour chart, there is a support level at 38.97, which, if violated, would cause prices to drop to 38.72. In the upper region, resistance lies at 39.70. The next price resistance is at 40.19. RSI (Relative Strength Index) is 33.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.13, which suggests the price will decrease in the coming days. Percent R is at 98.03%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Steven Madden Ltd. subject to short interest?
Stocks of Steven Madden Ltd. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.37 million shares to 2.7 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.07 million shares. A decline of -13.7% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.28 of the overall float, the days-to-cover ratio (short ratio) decline to 2.28.
