Movado Group (NYSE:MOV) Director Alexander Grinberg Sells 4,935 Shares

Movado Group Inc. (NYSE:MOV) Director Alexander Grinberg sold 4,935 shares of the stock in a transaction that occurred on Wednesday, January 5th. The stock was sold at an average price of $43.05, for a total value of $212,451.75. Following the completion of the transaction, the director directly owned 24,066 shares of the company’s stock, valued at $1,036,041.30. This represents a 17.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Movado Group Stock Performance

Shares of MOV traded down $0.85 on Thursday, reaching $23.77. The stock had a trading volume of 127,818 shares, compared to its average volume of 150,289. Movado Group Inc. has a 12-month low of $12.85 and a 12-month high of $25.85. The firm has a market capitalization of $524.75 million, a price-to-earnings ratio of 20.49 and a beta of 0.93. The company has a 50-day simple moving average of $24.10 and a 200-day simple moving average of $21.39.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. The company had revenue of $191.58 million for the quarter, compared to analysts’ expectations of $182.02 million. Movado Group had a return on equity of 6.09% and a net margin of 3.96%. On average, analysts expect that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.9%. Movado Group’s dividend payout ratio is currently 120.69%.

Wall Street Analysts Forecast Growth

MOV has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Wall Street Zen upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Northland Securities initiated coverage on Movado Group in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, BWS Financial restated a “buy” rating and issued a $31.50 price target on shares of Movado Group in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.75.

Hedge Funds Weigh In On Movado Group

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Movado Group by 39.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after purchasing an additional 449 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Movado Group by 70.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock worth $36,000 after buying an additional 724 shares during the last quarter. Comerica Bank lifted its stake in shares of Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after buying an additional 888 shares in the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Movado Group in the fourth quarter worth approximately $42,000. Finally, State of Wyoming purchased a new stake in shares of Movado Group during the second quarter valued at approximately $40,000. Institutional investors own 72.08% of the company’s stock.

Movado Group Company Profile

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.