Movado Group, Inc (MOV) Director Richard Cote Sells 1,600 Shares
Movado Group, Inc (NYSE:MOV) Director Richard Cote sold 1,600 shares of Movado Group stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $32.02, for a total transaction of $51,232.00. Following the sale, the director now directly owns 397,296 shares in the company, valued at approximately $12,721,417.92. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Movado Group, Inc (MOV) traded down $0.40 on Wednesday, hitting $31.45. 100,134 shares of the stock were exchanged, compared to its average volume of 112,138. The company has a market cap of $721.47, a price-to-earnings ratio of 30.53 and a beta of 0.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.80 and a quick ratio of 3.12. Movado Group, Inc has a 52-week low of $20.50 and a 52-week high of $33.70.
Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, November 21st. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The firm had revenue of $190.69 million for the quarter, compared to analyst estimates of $176.33 million. Movado Group had a net margin of 4.35% and a return on equity of 8.34%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. sell-side analysts expect that Movado Group, Inc will post 1.74 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new stake in shares of Movado Group during the 3rd quarter valued at about $101,000. PNC Financial Services Group Inc. boosted its stake in Movado Group by 1.6% during the second quarter. PNC Financial Services Group Inc. now owns 4,855 shares of the company’s stock worth $122,000 after acquiring an additional 78 shares in the last quarter. QS Investors LLC boosted its stake in Movado Group by 0.5% during the second quarter. QS Investors LLC now owns 5,748 shares of the company’s stock worth $145,000 after acquiring an additional 27 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Movado Group by 13.3% during the second quarter. BNP Paribas Arbitrage SA now owns 6,617 shares of the company’s stock worth $167,000 after acquiring an additional 776 shares in the last quarter. Finally, Van Hulzen Asset Management LLC bought a new stake in Movado Group during the third quarter worth about $210,000. 63.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the stock. KeyCorp reaffirmed a “hold” rating on shares of Movado Group in a research note on Wednesday, October 11th. ValuEngine raised shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $30.33.
ILLEGAL ACTIVITY WARNING: “Movado Group, Inc (MOV) Director Richard Cote Sells 1,600 Shares” was first reported by American Banking News and is owned by of American Banking News. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/01/10/movado-group-inc-mov-director-richard-cote-sells-1600-shares.html.
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.
Receive News & Ratings for Movado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group and related companies with MarketBeat.com's FREE daily email newsletter.