Movado Group, Inc. (NYSE:MOV) Director Richard D. Isserman Sells 5,000 Shares

Movado Group, Inc. (NYSE:MOVGet Rating) Director Richard D. Isserman sold 5,000 shares of Movado Group stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $37.86, for a total transaction of $189,300.00. Following the transaction, the director now directly owns 16,962 shares in the company, valued at $642,181.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of MOV opened at $39.55 on Friday. The firm has a market capitalization of $900.16 million, a PE ratio of 10.19 and a beta of 1.17. Movado Group, Inc. has a 1-year low of $27.69 and a 1-year high of $48.66. The company’s fifty day moving average price is $37.70 and its 200-day moving average price is $37.88.

Movado Group (NYSE:MOVGet Rating) last posted its earnings results on Thursday, March 24th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.52. Movado Group had a net margin of 12.51% and a return on equity of 20.78%. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, equities research analysts forecast that Movado Group, Inc. will post 4.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 20th. Shareholders of record on Wednesday, April 6th will be given a $0.35 dividend. The ex-dividend date is Tuesday, April 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.54%. This is an increase from Movado Group’s previous quarterly dividend of $0.25. Movado Group’s dividend payout ratio is 36.08%.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in Movado Group by 64.0% during the 2nd quarter. Morgan Stanley now owns 166,782 shares of the company’s stock valued at $5,248,000 after acquiring an additional 65,102 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Movado Group by 3.4% in the 3rd quarter. New York State Teachers Retirement System now owns 41,357 shares of the company’s stock valued at $1,302,000 after buying an additional 1,352 shares during the period. WINTON GROUP Ltd grew its stake in shares of Movado Group by 30.8% in the 3rd quarter. WINTON GROUP Ltd now owns 11,547 shares of the company’s stock valued at $364,000 after buying an additional 2,719 shares during the period. Maryland State Retirement & Pension System purchased a new stake in shares of Movado Group in the 3rd quarter valued at approximately $221,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Movado Group in the 3rd quarter valued at approximately $600,000. 64.55% of the stock is owned by institutional investors and hedge funds.

Several research firms have issued reports on MOV. StockNews.com raised shares of Movado Group from a “buy” rating to a “strong-buy” rating in a report on Monday, March 28th. Zacks Investment Research raised shares of Movado Group from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a report on Thursday, March 31st.

About Movado Group (Get Rating)

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari.

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