Movado Group, Inc. (NYSE:MOV) Sees Significant Increase in Short Interest

Movado Group, Inc. (NYSE:MOVGet Rating) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,160,000 shares, a growth of 17.9% from the March 31st total of 984,300 shares. Approximately 7.4% of the company’s stock are short sold. Based on an average daily volume of 174,200 shares, the short-interest ratio is currently 6.7 days.

In related news, Director Richard D. Isserman sold 5,000 shares of the business’s 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 of the company’s stock, valued at $642,181.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Kirschner sold 3,800 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $39.41, for a total transaction of $149,758.00. Following the transaction, the director now directly owns 13,897 shares in the company, valued at $547,680.77. The disclosure for this sale can be found here. Insiders own 28.42% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MOV. Chimera Capital Management LLC acquired a new position in Movado Group during the 4th quarter valued at $5,271,000. Victory Capital Management Inc. increased its holdings in Movado Group by 30.3% in the 4th quarter. Victory Capital Management Inc. now owns 457,197 shares of the company’s stock valued at $19,124,000 after buying an additional 106,371 shares during the period. Millennium Management LLC bought a new stake in Movado Group in the 4th quarter valued at $2,998,000. Arrowstreet Capital Limited Partnership increased its holdings in Movado Group by 55.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 195,572 shares of the company’s stock valued at $6,159,000 after buying an additional 69,862 shares during the period. Finally, Morgan Stanley increased its holdings in Movado Group by 64.0% in the 2nd quarter. Morgan Stanley now owns 166,782 shares of the company’s stock valued at $5,248,000 after buying an additional 65,102 shares during the period. Hedge funds and other institutional investors own 65.26% of the company’s stock.

Shares of Movado Group stock opened at $36.84 on Wednesday. The firm has a fifty day simple moving average of $37.54 and a 200-day simple moving average of $38.40. Movado Group has a 1-year low of $27.69 and a 1-year high of $48.66. The stock has a market capitalization of $838.63 million, a price-to-earnings ratio of 9.49 and a beta of 1.15.

Movado Group (NYSE:MOVGet Rating) last released its earnings results on Thursday, March 24th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 previous year, the company posted $0.84 earnings per share. On average, equities research analysts anticipate that Movado Group will post 4.11 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 20th. Investors of record on Wednesday, April 6th were paid a dividend of $0.35 per share. This is a boost from Movado Group’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Tuesday, April 5th. Movado Group’s dividend payout ratio is presently 36.08%.

A number of analysts have issued reports on MOV shares. Zacks Investment Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating and set a $46.00 target price for the company in a research note on Thursday, March 31st. StockNews.com upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 28th.

Movado Group Company Profile (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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