Movado Group Inc. (NYSE:MOV) Short Interest Update

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. Based on an average daily volume of 140,739 shares, the short-interest ratio is presently 2.6 days. Approximately 2.4% of the company’s stock are short sold. Approximately 2.4% of the company’s stock are short sold. Based on an average daily volume of 140,739 shares, the short-interest ratio is presently 2.6 days.

Movado Group Stock Performance

Shares of NYSE:MOV traded up $0.72 during midday trading on Tuesday, reaching $24.43. 181,894 shares of the company’s stock were exchanged, compared to its average volume of 135,932. The company’s 50 day simple moving average is $21.74 and its two-hundred day simple moving average is $19.31. Movado Group has a 12 month low of $12.85 and a 12 month high of $24.48. The firm has a market capitalization of $540.88 million, a PE ratio of 25.19 and a beta of 0.95.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $185.89 million. During the same period last year, the company earned $0.22 EPS. On average, research analysts anticipate that Movado Group will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Monday, December 8th. Movado Group’s dividend payout ratio is 144.33%.

Insider Transactions at Movado Group

In other Movado Group news, SVP Michelle Kennedy sold 1,290 shares of the stock in a transaction on 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 directly owned 27,857 shares of the company’s stock, valued at $581,932.73. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 30.80% of the company’s stock.

Institutional Investors Weigh In On Movado Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of Movado Group in the 4th quarter worth about $66,000. Laurel Wealth Advisors LLC bought a new position in shares of Movado Group in the fourth quarter valued at approximately $42,000. Deprince Race & Zollo Inc. raised its stake in shares of Movado Group by 27.6% in the fourth quarter. Deprince Race & Zollo Inc. now owns 258,478 shares of the company’s stock valued at $5,330,000 after acquiring an additional 55,967 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Movado Group by 3.2% in the 3rd quarter. Millennium Management LLC now owns 125,832 shares of the company’s stock worth $2,387,000 after acquiring an additional 3,854 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Movado Group by 83.1% in the 3rd quarter. Bank of America Corp DE now owns 33,473 shares of the company’s stock valued at $635,000 after purchasing an additional 15,187 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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