Movado Group (NYSE:MOV) Sees Unusually-High Trading Volume

Movado Group, Inc. (NYSE:MOVGet Rating) saw unusually-high trading volume on Friday . Approximately 14,029 shares changed hands during trading, a decline of 90% from the previous session’s volume of 143,767 shares.The stock last traded at $34.21 and had previously closed at $33.63.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Movado Group in a research note on Wednesday, October 12th. They set a “buy” rating on the stock.

Movado Group Price Performance

The business has a fifty day simple moving average of $32.57 and a two-hundred day simple moving average of $32.56. The company has a market cap of $774.40 million, a PE ratio of 7.76 and a beta of 1.14.

Movado Group (NYSE:MOVGet Rating) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $1.31 earnings per share (EPS) for the quarter. The business had revenue of $211.40 million for the quarter. Movado Group had a return on equity of 22.14% and a net margin of 13.51%. On average, equities research analysts predict that Movado Group, Inc. will post 4.01 EPS for the current year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, December 1st. Movado Group’s dividend payout ratio is currently 31.46%.

Insiders Place Their Bets

In other Movado Group news, Director Ann Kirschner sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the director now directly owns 8,897 shares of the company’s stock, valued at $301,430.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Ann Kirschner sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the director now directly owns 8,897 shares of the company’s stock, valued at approximately $301,430.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Vivian Delia sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $34.14, for a total value of $92,178.00. Following the transaction, the vice president now directly owns 29,808 shares of the company’s stock, valued at $1,017,645.12. The disclosure for this sale can be found here. 27.76% of the stock is owned by insiders.

Institutional Trading of Movado Group

Large investors have recently made changes to their positions in the company. Royce & Associates LP grew its holdings in Movado Group by 17.4% in the 3rd quarter. Royce & Associates LP now owns 1,329,620 shares of the company’s stock valued at $37,469,000 after buying an additional 196,998 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Movado Group by 1,509.2% in the 3rd quarter. Lazard Asset Management LLC now owns 94,217 shares of the company’s stock valued at $2,655,000 after buying an additional 88,362 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Movado Group by 166.3% in the 2nd quarter. Renaissance Technologies LLC now owns 124,100 shares of the company’s stock valued at $3,838,000 after buying an additional 77,500 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Movado Group by 432.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 94,088 shares of the company’s stock valued at $2,651,000 after buying an additional 76,410 shares in the last quarter. Finally, LSV Asset Management grew its holdings in Movado Group by 233.5% in the 1st quarter. LSV Asset Management now owns 94,244 shares of the company’s stock valued at $3,680,000 after buying an additional 65,983 shares in the last quarter. 67.21% 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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