Movado Group (NYSE:MOV) Sets New 12-Month High – What’s Next?

Movado Group Inc. (NYSE:MOV) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $22.96 and last traded at $22.7410, with a volume of 132548 shares traded. The stock had previously closed at $22.62.

Analyst Ratings Changes

A number of brokerages have weighed in on MOV. Northland Securities initiated coverage on Movado Group in a research note on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price objective for the company. Zacks Research lowered shares of Movado Group from a “hold” rating to a “strong sell” rating in a report on Friday, November 28th. Northland Capmk upgraded shares of Movado Group to a “strong-buy” rating in a research report on Wednesday, January 7th. Wall Street Zen upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Movado Group has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Movado Group Trading Up 0.5%

The company has a market capitalization of $503.49 million, a price-to-earnings ratio of 23.44 and a beta of 0.90. The company has a 50 day moving average price of $20.66 and a 200 day moving average price of $18.69.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Tuesday, November 25th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). The firm had revenue of $186.13 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.22 earnings per share. Equities analysts predict that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Monday, December 8th. Movado Group’s dividend payout ratio is currently 144.33%.

Insiders Place Their Bets

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 shares were sold at an average price of $20.89, for a total transaction of $26,948.10. Following the completion of the transaction, the senior vice president owned 27,857 shares in the company, valued at approximately $581,932.73. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 30.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOV. Comerica Bank raised 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 purchasing an additional 888 shares during the period. CWM LLC grew its position in shares of 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 purchasing an additional 862 shares during the period. State of Wyoming bought a new stake in Movado Group during the 2nd quarter worth approximately $40,000. Harbor Capital Advisors Inc. increased its stake in Movado Group by 20.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock worth $88,000 after purchasing an additional 790 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Movado Group during the 2nd quarter worth approximately $173,000. 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.