Movado Group (NYSE:MOV) Shares Pass Above 200-Day Moving Average – Time to Sell?

Movado Group Inc. (NYSE:MOV)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.37 and traded as high as $25.36. Movado Group shares last traded at $24.9280, with a volume of 86,530 shares.

Analysts Set New Price Targets

MOV has been the topic of several research analyst reports. BWS Financial restated a “buy” rating and set a $31.50 target price on shares of Movado Group in a research report on Monday, February 2nd. Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Northland Securities started coverage on shares of Movado Group in a report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.75.

Movado Group Stock Performance

The stock has a market capitalization of $551.91 million, a PE ratio of 25.70 and a beta of 0.95. The company’s fifty day simple moving average is $23.02 and its two-hundred day simple moving average is $20.37.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Tuesday, November 25th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.12). Movado Group had a net margin of 3.33% and a return on equity of 5.86%. The business had revenue of $186.13 million during the quarter, compared to analyst estimates of $185.89 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. Sell-side analysts forecast that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Insider Activity

In other news, SVP Michelle Kennedy sold 1,290 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total value of $26,948.10. Following the sale, the senior vice president directly owned 27,857 shares in the company, valued at $581,932.73. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 30.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of Movado Group by 4.8% in the fourth quarter. Invesco Ltd. now owns 37,133 shares of the company’s stock valued at $766,000 after buying an additional 1,699 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Movado Group in the 4th quarter worth about $447,000. Man Group plc purchased a new stake in Movado Group in the 4th quarter valued at about $385,000. AQR Capital Management LLC grew its holdings in Movado Group by 94.1% in the 4th quarter. AQR Capital Management LLC now owns 186,862 shares of the company’s stock valued at $3,853,000 after buying an additional 90,578 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Movado Group by 6.8% during the 4th quarter. Lazard Asset Management LLC now owns 56,442 shares of the company’s stock valued at $1,164,000 after acquiring an additional 3,608 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

About Movado Group

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.