Movado Group Director Buys $48,000 in Stock (MOV)
Movado Group (NYSE:MOV) Director Maurice S. Reznik acquired 1,200 shares of the stock in a transaction dated Friday, June 6th. The stock was purchased at an average price of $40.00 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the director now directly owns 11,286 shares in the company, valued at approximately $451,440. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Movado Group (NYSE:MOV) opened at 40.66 on Wednesday. Movado Group has a 52-week low of $31.52 and a 52-week high of $48.50. The stock’s 50-day moving average is $39.18 and its 200-day moving average is $41.14. The company has a market cap of $1.029 billion and a P/E ratio of 21.06.
Movado Group (NYSE:MOV) last announced its earnings results 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. Analysts expect that Movado Group will post $2.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, May 29th.
A number of analysts have recently weighed in on MOV shares. 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 company’s stock. The company presently has an average rating of “Buy” and an average price target of $51.43.
Movado Group, Inc (NYSE:MOV), designs, sources, markets and distributes fine watches.
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