Movado Group (NYSE:MOV) SVP Sells $26,948.10 in Stock

Movado Group Inc. (NYSE:MOV) SVP Michelle Kennedy sold 1,290 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the sale, the senior vice president directly owned 27,857 shares in the company, valued at $581,932.73. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Movado Group Stock Performance

Shares of NYSE MOV traded up $0.06 during midday trading on Monday, hitting $22.72. The company’s stock had a trading volume of 142,846 shares, compared to its average volume of 139,964. Movado Group Inc. has a 1-year low of $12.85 and a 1-year high of $22.75. The firm’s fifty day moving average price is $20.31 and its 200-day moving average price is $18.54. The firm has a market cap of $502.98 million, a P/E ratio of 23.42 and a beta of 0.90.

Movado Group (NYSE:MOV) last issued its earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). Movado Group had a return on equity of 5.86% and a net margin of 3.33%.The business had revenue of $186.13 million during the quarter, compared to the consensus estimate of $185.89 million. During the same period in the prior year, the business earned $0.22 EPS. As a group, research analysts predict that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 8th. This represents a $1.40 dividend on an annualized basis and a yield of 6.2%. Movado Group’s payout ratio is currently 144.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Movado Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Northland Securities began coverage on shares of Movado Group in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price objective on the stock. Zacks Research lowered shares of Movado Group from a “hold” rating to a “strong sell” rating in a research note on Friday, November 28th. Northland Capmk upgraded shares of Movado Group to a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.75.

Institutional Trading of Movado Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MOV. Comerica Bank lifted its stake in shares of Movado Group by 99.0% in the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after acquiring an additional 888 shares during the period. CWM LLC increased its stake in shares of Movado Group by 49.9% during the second quarter. CWM LLC now owns 2,588 shares of the company’s stock valued at $39,000 after acquiring an additional 862 shares during the period. State of Wyoming bought a new stake in Movado Group during the second quarter worth approximately $40,000. Harbor Capital Advisors Inc. lifted its position in Movado Group by 20.4% in the third quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock worth $88,000 after purchasing an additional 790 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Movado Group in the second quarter worth approximately $173,000. 72.08% of the stock is currently owned by institutional investors.

About Movado Group

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.