Movado Group (NYSE:MOV – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.
Separately, Zacks Investment Research raised shares of 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.
Shares of NYSE:MOV traded down $0.11 during midday trading on Monday, reaching $36.50. The company had a trading volume of 5,128 shares, compared to its average volume of 178,921. The stock’s fifty day moving average price is $36.63 and its 200-day moving average price is $38.31. The stock has a market capitalization of $830.89 million, a P/E ratio of 8.55 and a beta of 1.15. Movado Group has a one year low of $27.69 and a one year high of $48.66.
Movado Group Incorporated Pulls Back After Robust Results
Movado Group (NYSE:MOV – Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.36. Movado Group had a net margin of 13.23% and a return on equity of 22.38%. During the same period last year, the firm earned $0.43 earnings per share. As a group, equities analysts anticipate that Movado Group will post 4.11 earnings per share for the current year.
In other news, Director Ann Kirschner sold 3,800 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 13,897 shares of the company’s stock, valued at $547,680.77. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Isserman sold 5,000 shares of the business’s stock in a transaction 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 approximately $642,181.32. The disclosure for this sale can be found here. Insiders own 27.76% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MOV. Point72 Hong Kong Ltd lifted its holdings in Movado Group by 618.9% in the third quarter. Point72 Hong Kong Ltd now owns 913 shares of the company’s stock worth $29,000 after purchasing an additional 786 shares during the period. Liberty Wealth Management LLC lifted its holdings in Movado Group by 99.2% in the third 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. Captrust Financial Advisors lifted its holdings in Movado Group by 89.5% in the first quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock worth $42,000 after purchasing an additional 511 shares during the period. First Horizon Advisors Inc. lifted its holdings in Movado Group by 241.1% in the fourth 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. Finally, UMB Bank N A MO acquired a new stake in Movado Group in the fourth quarter worth about $59,000. 65.26% of the stock is owned by 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.