Michelle Kennedy Sells 1,245 Shares of Movado Group, Inc. (NYSE:MOV) Stock

Movado Group, Inc. (NYSE:MOV) SVP Michelle Kennedy sold 1,245 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total transaction of $32,432.25. Following the sale, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Movado Group Trading Down 1.2 %

NYSE:MOV traded down $0.31 on Thursday, hitting $25.70. The company had a trading volume of 120,725 shares, compared to its average volume of 166,921. The stock has a market capitalization of $570.80 million, a price-to-earnings ratio of 14.53 and a beta of 1.04. The firm has a 50 day moving average of $25.78 and a two-hundred day moving average of $26.91. Movado Group, Inc. has a 52 week low of $23.92 and a 52 week high of $31.44.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.13 EPS for the quarter. The business had revenue of $136.67 million during the quarter. Movado Group had a net margin of 6.09% and a return on equity of 8.18%. As a group, equities analysts forecast that Movado Group, Inc. will post 1.25 EPS for the current year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.45%. The ex-dividend date was Wednesday, June 12th. Movado Group’s payout ratio is 78.21%.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a research note on Friday, May 31st.

Hedge Funds Weigh In On Movado Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC raised its stake in shares of Movado Group by 195.7% during the first quarter. Denali Advisors LLC now owns 96,400 shares of the company’s stock valued at $2,692,000 after acquiring an additional 63,800 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Movado Group by 49.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 157,963 shares of the company’s stock valued at $4,763,000 after acquiring an additional 51,995 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Movado Group by 6.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,760 shares of the company’s stock valued at $475,000 after acquiring an additional 900 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of Movado Group during the fourth quarter valued at $511,000. Finally, Pacer Advisors Inc. raised its stake in shares of Movado Group by 62.6% during the fourth quarter. Pacer Advisors Inc. now owns 610,588 shares of the company’s stock valued at $18,409,000 after acquiring an additional 235,039 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

About Movado Group

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.