Movado Group (NYSE:MOV) Stock Passes Above 200-Day Moving Average – Time to Sell?

Movado Group Inc. (NYSE:MOV) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.87 and traded as high as $22.25. Movado Group shares last traded at $21.97, with a volume of 235,820 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Movado Group from a “hold” rating to a “buy” rating in a report on Friday, November 28th. Zacks Research downgraded Movado Group from a “hold” rating to a “strong sell” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a report on Monday. Finally, BWS Financial reissued a “buy” rating and issued a $31.50 target price on shares of Movado Group in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.50.

Movado Group Trading Up 1.1%

The firm has a market capitalization of $486.37 million, a PE ratio of 22.65 and a beta of 0.89. The stock’s 50 day moving average price is $19.39 and its two-hundred day moving average price is $17.87.

Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, November 25th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). The company had revenue of $186.13 million for the quarter, compared to analyst estimates of $185.89 million. Movado Group had a net margin of 3.33% and a return on equity of 5.86%. During the same quarter last year, the company posted $0.22 EPS. Analysts expect that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Monday, December 8th. Movado Group’s dividend payout ratio (DPR) is currently 144.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Movado Group by 14.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 186,468 shares of the company’s stock worth $3,118,000 after buying an additional 23,095 shares in the last quarter. Deutsche Bank AG grew its stake in Movado Group by 0.8% in the 1st quarter. Deutsche Bank AG now owns 92,226 shares of the company’s stock worth $1,542,000 after acquiring an additional 726 shares during the period. Nuveen LLC purchased a new stake in Movado Group in the 1st quarter worth approximately $701,000. American Century Companies Inc. raised its holdings in Movado Group by 5.8% in the 1st quarter. American Century Companies Inc. now owns 433,322 shares of the company’s stock valued at $7,245,000 after acquiring an additional 23,737 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Movado Group during the 1st quarter worth $287,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.