Short Interest in Movado Group Inc. (NYSE:MOV) Rises By 26.2%

Movado Group Inc. (NYSE:MOV) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 367,006 shares, an increase of 26.2% from the December 31st total of 290,875 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 140,739 shares, the short-interest ratio is currently 2.6 days. Based on an average trading volume of 140,739 shares, the short-interest ratio is currently 2.6 days. Approximately 2.4% of the company’s shares are short sold.

Movado Group Stock Up 2.5%

Shares of NYSE MOV traded up $0.61 during midday trading on Wednesday, reaching $25.02. 117,896 shares of the stock were exchanged, compared to its average volume of 142,592. The firm has a 50-day simple moving average of $21.74 and a two-hundred day simple moving average of $19.31. The firm has a market cap of $553.83 million, a price-to-earnings ratio of 25.79 and a beta of 0.95. Movado Group has a twelve month low of $12.85 and a twelve month high of $25.08.

Movado Group (NYSE:MOV) last released its quarterly 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). The company had revenue of $186.13 million during the quarter, compared to analyst estimates of $185.89 million. Movado Group had a net margin of 3.33% and a return on equity of 5.86%. During the same period in the prior year, the business posted $0.22 EPS. Research analysts expect that Movado Group will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.6%. Movado Group’s payout ratio is presently 144.33%.

Insider Activity

In related news, SVP Michelle Kennedy sold 1,290 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $20.89, for a total transaction of $26,948.10. Following the transaction, the senior vice president owned 27,857 shares in the company, valued at $581,932.73. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 30.80% of the company’s stock.

Institutional Trading of Movado Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MOV. Comerica Bank increased its position in Movado Group by 99.0% during the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after buying an additional 888 shares during the period. Laurel Wealth Advisors LLC acquired a new position in shares of Movado Group during the 4th quarter worth $42,000. CWM LLC grew its holdings in shares of Movado Group by 49.9% in the 2nd quarter. CWM LLC now owns 2,588 shares of the company’s stock worth $39,000 after acquiring an additional 862 shares during the period. State of Wyoming acquired a new position in shares of Movado Group during the 2nd quarter worth $40,000. Finally, Strs Ohio purchased a new stake in shares of Movado Group in the fourth quarter valued at about $66,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MOV has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a research report on Monday, December 29th. Wall Street Zen cut Movado Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 24th. Northland Securities assumed coverage on Movado Group in a research note on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price objective on the stock. Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Finally, BWS Financial restated a “buy” rating and issued a $31.50 price target on shares of Movado Group in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.75.

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.