Movado Group Inc. (MOV) Director Nathan Leventhal Sells 3,130 Shares
Movado Group Inc. (NYSE:MOV) Director Nathan Leventhal sold 3,130 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $28.05, for a total transaction of $87,796.50. Following the transaction, the director now owns 14,565 shares of the company’s stock, valued at approximately $408,548.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Movado Group Inc. (NYSE:MOV) traded up 0.72% on Thursday, reaching $27.80. 132,840 shares of the company’s stock traded hands. The firm has a market capitalization of $634.98 million, a P/E ratio of 23.99 and a beta of 0.20. The stock has a 50-day moving average of $24.75 and a 200 day moving average of $23.77. Movado Group Inc. has a 52 week low of $20.50 and a 52 week high of $31.95.
Movado Group (NYSE:MOV) last posted its quarterly earnings data on Tuesday, August 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $128.80 million for the quarter, compared to analyst estimates of $122 million. Movado Group had a net margin of 4.97% and a return on equity of 7.74%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities analysts expect that Movado Group Inc. will post $1.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.87%. Movado Group’s dividend payout ratio is currently 45.22%.
Movado Group announced that its board has initiated a share repurchase plan on Tuesday, August 29th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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Several research analysts have commented on the stock. ValuEngine upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, BidaskClub cut shares of Movado Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Movado Group currently has a consensus rating of “Buy” and an average target price of $30.33.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Movado Group by 4.5% during the first quarter. Vanguard Group Inc. now owns 1,557,766 shares of the company’s stock valued at $38,866,000 after purchasing an additional 67,655 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Movado Group by 36.9% during the first quarter. JPMorgan Chase & Co. now owns 1,097,610 shares of the company’s stock valued at $27,386,000 after purchasing an additional 295,892 shares during the period. FMR LLC raised its stake in shares of Movado Group by 62.5% during the second quarter. FMR LLC now owns 588,709 shares of the company’s stock valued at $14,865,000 after purchasing an additional 226,510 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Movado Group during the second quarter valued at approximately $13,810,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Movado Group during the second quarter valued at approximately $10,666,000. Institutional investors own 64.33% of the company’s stock.
Movado Group Company Profile
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
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