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

Movado Group Inc. (NYSE:MOV) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BWS Financial reiterated a “buy” rating and set a $31.50 target price on shares of Movado Group in a report on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Movado Group in a research note on Monday. 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, Wall Street Zen upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.50.

Movado Group Stock Performance

The company’s fifty day moving average price is $19.46 and its 200 day moving average price is $17.91. The firm has a market capitalization of $466.31 million, a price-to-earnings ratio of 21.71 and a beta of 0.89.

Movado Group (NYSE:MOV) last posted its earnings results 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 company had revenue of $186.13 million during the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.22 earnings per share. As a group, sell-side analysts expect that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, December 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%. Movado Group’s payout ratio is currently 144.33%.

Institutional Trading of Movado Group

Large investors have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC boosted its position in shares of Movado Group by 14,191.7% in the first quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock worth $29,000 after buying an additional 1,703 shares during the period. Comerica Bank increased its position 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 purchasing an additional 888 shares during the last quarter. CWM LLC lifted its holdings in shares of Movado Group by 49.9% during 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. State of Wyoming bought a new stake in shares of Movado Group in the 2nd quarter valued at approximately $40,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Movado Group by 20.4% in the third quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock worth $88,000 after buying an additional 790 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

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.