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.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, November 30th. Movado Group’s payout ratio is 50.49%.

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.

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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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