Movado Group (NYSE:MOV) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Movado Group Inc. (NYSE:MOV)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $32.04 and traded as high as $33.47. Movado Group shares last traded at $32.9260, with a volume of 140,157 shares changing hands.

Analysts Set New Price Targets

MOV has been the subject of several research analyst reports. Weiss Ratings upgraded Movado Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th. Wall Street Zen lowered Movado Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Northland Securities set a $35.00 price target on shares of Movado Group in a report on Wednesday, May 27th. Zacks Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Finally, BWS Financial restated a “buy” rating and set a $45.00 price target on shares of Movado Group in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Buy” and an average target price of $40.00.

Movado Group Stock Performance

The firm’s 50-day moving average is $35.95 and its two-hundred day moving average is $32.10. The stock has a market cap of $727.37 million, a P/E ratio of 18.11 and a beta of 0.92.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.35 by $0.19. The company had revenue of $169.75 million during the quarter, compared to analysts’ expectations of $164.20 million. Movado Group had a net margin of 6.00% and a return on equity of 8.49%. As a group, research analysts forecast that Movado Group Inc. will post 1.94 EPS for the current year.

Movado Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, September 8th. Movado Group’s dividend payout ratio is 88.89%.

Hedge Funds Weigh In On Movado Group

Several institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in Movado Group in the 2nd quarter valued at $98,000. Squarepoint Ops LLC bought a new position in shares of Movado Group during the 2nd quarter worth approximately $551,000. Allworth Financial LP grew its stake in shares of Movado Group by 128.4% during the 2nd quarter. Allworth Financial LP now owns 676 shares of the company’s stock worth $27,000 after acquiring an additional 380 shares in the last quarter. BTG Pactual Asset Management US LLC acquired a new stake in shares of Movado Group in the second quarter valued at approximately $264,000. Finally, Hsbc Holdings PLC lifted its position in shares of Movado Group by 87.4% in the second quarter. Hsbc Holdings PLC now owns 16,759 shares of the company’s stock worth $657,000 after purchasing an additional 7,814 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.

About Movado Group

Movado Group, Inc is a designer, manufacturer, and distributor of watches and related accessories. The company’s portfolio includes its flagship Movado brand, known for minimalist watch designs, as well as Ebel, Concord, MVMT, and Olivia Burton. Movado Group also markets watches under licensed and owned fashion brands, including Coach, Tommy Hilfiger, Hugo Boss, Lacoste, and Calvin Klein, subject to the terms of its licensing agreements.

Founded in 1881 in La Chaux-de-Fonds, Switzerland, Movado Group has developed into an international watch company headquartered in Paramus, New Jersey.