Movado Group (NYSE:MOV) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Movado Group (NYSE:MOV) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, Benchmark reaffirmed a buy rating and issued a $41.00 target price on shares of Movado Group in a research report on Friday, May 31st.

Movado Group Price Performance

Shares of MOV opened at $18.90 on Friday. The business’s 50-day moving average is $24.33 and its 200-day moving average is $25.81. The company has a market capitalization of $419.77 million, a price-to-earnings ratio of 10.56 and a beta of 1.00. Movado Group has a fifty-two week low of $18.71 and a fifty-two week high of $31.44.

Movado Group (NYSE:MOV) last released its earnings results on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Movado Group had a return on equity of 8.18% and a net margin of 6.09%. The company had revenue of $159.31 million during the quarter. During the same period last year, the firm posted $0.38 EPS. Equities research analysts expect that Movado Group will post 1.25 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.41%. The ex-dividend date of this dividend is Monday, September 16th. Movado Group’s dividend payout ratio is 78.21%.

Insider Transactions at Movado Group

In other news, SVP Michelle Kennedy sold 1,245 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total transaction of $32,432.25. Following the transaction, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Movado Group

Institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Movado Group during the 2nd quarter valued at about $25,000. Quadrant Capital Group LLC raised its position in shares of Movado Group by 112.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company’s stock valued at $32,000 after purchasing an additional 561 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Movado Group by 1,246.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock worth $109,000 after buying an additional 3,616 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Movado Group during the 2nd quarter worth $122,000. Finally, EntryPoint Capital LLC grew its stake in Movado Group by 54.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,293 shares of the company’s stock valued at $148,000 after buying an additional 1,859 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.