Movado Group (NYSE:MOV) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Movado Group Inc. (NYSE:MOV)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.08 and traded as high as $20.89. Movado Group shares last traded at $20.86, with a volume of 94,251 shares.

Analysts Set New Price Targets

MOV has been the topic of a number of analyst reports. Wall Street Zen upgraded Movado Group from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. BWS Financial reiterated a “buy” rating and set a $31.50 price target on shares of Movado Group in a report on Wednesday, November 26th. Zacks Research cut shares of Movado Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a report on Monday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.50.

Movado Group Stock Performance

The company has a 50 day moving average price of $19.74 and a 200 day moving average price of $18.08. The firm has a market cap of $461.84 million, a price-to-earnings ratio of 21.51 and a beta of 0.89.

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

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.7%. Movado Group’s dividend payout ratio (DPR) is currently 144.33%.

Hedge Funds Weigh In On Movado Group

A number of hedge funds have recently made changes to their positions in the stock. Coppell Advisory Solutions LLC increased its holdings in Movado Group by 14,191.7% in the 1st quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock valued at $29,000 after purchasing an additional 1,703 shares during the last quarter. Comerica Bank boosted its position in shares of Movado Group by 99.0% during the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after buying an additional 888 shares during the period. CWM LLC boosted its position in shares of Movado Group by 49.9% during the second quarter. CWM LLC now owns 2,588 shares of the company’s stock worth $39,000 after buying an additional 862 shares during the period. State of Wyoming acquired a new stake in shares of Movado Group in the second quarter valued at $40,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Movado Group by 20.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock valued at $88,000 after buying an additional 790 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Company Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.