Movado Group (NYSE:MOV) SVP Michelle Kennedy Sells 1,290 Shares

Movado Group Inc. (NYSE:MOV) SVP Michelle Kennedy sold 1,290 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total value of $26,948.10. Following the sale, the senior vice president owned 27,857 shares of the company’s stock, valued at $581,932.73. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Movado Group Trading Up 0.3%

Shares of NYSE:MOV traded up $0.06 during midday trading on Monday, hitting $22.72. The 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 stock has a 50 day moving average price of $20.31 and a two-hundred day moving average price of $18.54. The company has a market capitalization of $502.98 million, a PE 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 for the quarter, compared to analysts’ expectations of $185.89 million. During the same period last year, the company posted $0.22 earnings per share. As a group, equities analysts expect that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

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

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several equities analysts have weighed in on MOV shares. Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. Northland Capmk upgraded shares of Movado Group to a “strong-buy” rating in a research report on Wednesday, January 7th. BWS Financial restated a “buy” rating and issued a $31.50 price target on shares of Movado Group in a report on Wednesday, November 26th. Northland Securities assumed coverage on Movado Group in a report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Zacks Research lowered Movado Group from a “hold” rating to a “strong sell” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Movado Group presently has a consensus rating of “Moderate Buy” and an average price target 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.