Movado Group Director Buys $48,000 in Stock (MOV)
Movado Group (NYSE:MOV) Director Maurice S. Reznik purchased 1,200 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was purchased at an average cost of $40.00 per share, with a total value of $48,000.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at approximately $451,440. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Movado Group (NYSE:MOV) traded up 1.11% on Monday, hitting $40.25. 77,933 shares of the company’s stock traded hands. Movado Group has a 52-week low of $31.52 and a 52-week high of $48.50. The stock has a 50-day moving average of $39. and a 200-day moving average of $41.23. The company has a market cap of $1.018 billion and a P/E ratio of 20.51.
Movado Group (NYSE:MOV) last released its earnings data on Thursday, May 22nd. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.03. The company had revenue of $120.90 million for the quarter, compared to the consensus estimate of $123.07 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Movado Group will post $2.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, May 29th.
MOV has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Movado Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 27th. They now have a $44.30 price target on the stock. Analysts at Brean Capital raised their price target on shares of Movado Group from $50.00 to $54.00 in a research note on Wednesday, March 26th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Movado Group currently has a consensus rating of “Buy” and a consensus price target of $51.43.
Movado Group, Inc (NYSE:MOV), designs, sources, markets and distributes fine watches.
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