Insider Selling: Movado Group (NYSE:MOV) Director Sells $212,451.75 in Stock

Movado Group Inc. (NYSE:MOV) Director Alexander Grinberg sold 4,935 shares of the company’s stock in a transaction that occurred on Wednesday, January 5th. The shares were sold at an average price of $43.05, for a total value of $212,451.75. Following the sale, the director directly owned 24,066 shares of the company’s stock, valued at approximately $1,036,041.30. This represents a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Movado Group Trading Down 0.0%

Shares of MOV stock opened at $23.77 on Friday. The company has a market capitalization of $524.80 million, a P/E ratio of 20.49 and a beta of 0.85. The business’s 50 day moving average is $24.15 and its two-hundred day moving average is $21.44. Movado Group Inc. has a twelve month low of $12.85 and a twelve month high of $25.85.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. Movado Group had a return on equity of 6.09% and a net margin of 3.96%.The business had revenue of $191.58 million during the quarter, compared to analysts’ expectations of $182.02 million. As a group, equities analysts predict that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, April 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 5.9%. Movado Group’s dividend payout ratio is presently 120.69%.

Analysts Set New Price Targets

MOV has been the topic of several analyst reports. Wall Street Zen raised shares of Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. BWS Financial restated a “buy” rating and issued a $31.50 price objective on shares of Movado Group in a research report on Friday, March 20th. Zacks Research raised Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Movado Group in a research report on Monday, December 29th. Finally, Northland Securities assumed coverage on Movado Group in a research note on Wednesday, January 7th. They set an “outperform” rating and a $30.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Hedge Funds Weigh In On Movado Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in Movado Group by 39.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock worth $33,000 after buying an additional 449 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Movado Group by 70.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after buying an additional 724 shares in the last quarter. CWM LLC increased its holdings in Movado Group by 28.2% in the third quarter. CWM LLC now owns 3,318 shares of the company’s stock valued at $63,000 after buying an additional 730 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Movado Group by 20.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock valued at $88,000 after acquiring an additional 790 shares during the period. Finally, Comerica Bank lifted its position in shares of Movado Group by 99.0% during the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after acquiring an additional 888 shares during the period. 72.08% of the stock is owned by institutional investors and hedge funds.

Movado Group Company Profile

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.