Movado Group (NYSE:MOV) Lowered to “Buy” at StockNews.com

StockNews.com downgraded shares of Movado Group (NYSE:MOVGet Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

Separately, Zacks Investment Research upgraded Movado Group from a hold rating to a strong-buy rating and set a $46.00 price objective for the company in a report on Thursday, March 31st.

Movado Group stock opened at $34.74 on Monday. The business has a fifty day moving average of $37.30 and a two-hundred day moving average of $38.47. The firm has a market cap of $790.82 million, a P/E ratio of 8.95 and a beta of 1.15. Movado Group has a twelve month low of $27.69 and a twelve month high of $48.66.

Movado Group (NYSE:MOVGet Rating) last posted its earnings results on Thursday, March 24th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.52. The company had revenue of $205.98 million during the quarter. Movado Group had a return on equity of 20.78% and a net margin of 12.51%. During the same quarter in the prior year, the company earned $0.84 EPS. Research analysts anticipate that Movado Group will post 4.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 20th. Stockholders of record on Wednesday, April 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Tuesday, April 5th. This is a positive change from Movado Group’s previous quarterly dividend of $0.25. Movado Group’s dividend payout ratio is currently 36.08%.

In related news, Director Ann Kirschner sold 3,800 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $39.41, for a total value of $149,758.00. Following the transaction, the director now directly owns 13,897 shares of the company’s stock, valued at approximately $547,680.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard D. Isserman sold 5,000 shares of the company’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $37.86, for a total value of $189,300.00. Following the completion of the transaction, the director now directly owns 16,962 shares in the company, valued at $642,181.32. The disclosure for this sale can be found here. Corporate insiders own 28.42% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOV. Point72 Hong Kong Ltd increased its position in shares of Movado Group by 618.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 913 shares of the company’s stock valued at $29,000 after acquiring an additional 786 shares during the period. Liberty Wealth Management LLC grew its position in Movado Group by 99.2% during the 3rd quarter. Liberty Wealth Management LLC now owns 950 shares of the company’s stock worth $32,000 after purchasing an additional 473 shares during the period. First Horizon Advisors Inc. grew its position in Movado Group by 241.1% during the 4th quarter. First Horizon Advisors Inc. now owns 1,286 shares of the company’s stock worth $53,000 after purchasing an additional 909 shares during the period. UMB Bank N A MO acquired a new stake in Movado Group during the 4th quarter worth about $59,000. Finally, Heritage Wealth Management LLC grew its position in Movado Group by 12.9% during the 3rd quarter. Heritage Wealth Management LLC now owns 4,349 shares of the company’s stock worth $137,000 after purchasing an additional 496 shares during the period. 65.26% of the stock is currently owned by hedge funds and other institutional investors.

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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