Movado Group (NYSE:MOV) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Movado Group Inc. (NYSE:MOV)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.37 and traded as high as $25.36. Movado Group shares last traded at $24.9280, with a volume of 86,530 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MOV shares. Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Wall Street Zen raised Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. BWS Financial reiterated a “buy” rating and issued a $31.50 target price on shares of Movado Group in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. Finally, Northland Securities assumed coverage on Movado Group in a report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Movado Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Stock Performance

The firm has a fifty day moving average of $23.02 and a 200-day moving average of $20.37. The stock has a market capitalization of $551.91 million, a price-to-earnings ratio of 25.70 and a beta of 0.95.

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

Insider Activity at Movado Group

In related news, SVP Michelle Kennedy sold 1,290 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the transaction, the senior vice president directly owned 27,857 shares of the company’s stock, valued at approximately $581,932.73. The trade was a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 30.80% of the company’s stock.

Institutional Trading of Movado Group

A number of hedge funds have recently made changes to their positions in MOV. PNC Financial Services Group Inc. boosted its stake in shares of Movado Group by 39.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after purchasing an additional 449 shares during the period. Comerica Bank lifted its holdings in Movado Group by 99.0% in the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after buying an additional 888 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Movado Group by 70.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after buying an additional 724 shares during the last quarter. CWM LLC boosted its position in Movado Group by 49.9% in the 2nd quarter. CWM LLC now owns 2,588 shares of the company’s stock valued at $39,000 after buying an additional 862 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Movado Group during the second quarter valued at about $40,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

About Movado Group

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.