Movado Group, Inc (NYSE:MOV) Director Maurice S. Reznik bought 3,002 shares of Movado Group stock in a transaction dated Friday, August 30th. The stock was acquired at an average cost of $21.25 per share, for a total transaction of $63,792.50. Following the completion of the transaction, the director now directly owns 35,732 shares in the company, valued at $759,305. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
MOV opened at $25.36 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.05 and a current ratio of 3.64. The stock has a market capitalization of $576.84 million, a P/E ratio of 9.50 and a beta of 0.54. The company’s 50-day simple moving average is $24.02 and its two-hundred day simple moving average is $29.53. Movado Group, Inc has a 52-week low of $18.78 and a 52-week high of $44.39.
Movado Group (NYSE:MOV) last posted its earnings results on Wednesday, August 28th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.13). Movado Group had a net margin of 9.23% and a return on equity of 11.74%. The company had revenue of $157.80 million for the quarter, compared to the consensus estimate of $167.00 million. During the same quarter in the prior year, the company posted $0.45 EPS. Movado Group’s revenue was up 9.5% on a year-over-year basis. Research analysts forecast that Movado Group, Inc will post 2.27 EPS for the current fiscal year.
The firm also recently disclosed a — dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th will be paid a $0.20 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Monday, September 9th. Movado Group’s dividend payout ratio (DPR) is presently 29.96%.
Institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its holdings in Movado Group by 15.8% in the 1st quarter. Royce & Associates LP now owns 202,170 shares of the company’s stock worth $7,355,000 after acquiring an additional 27,510 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Movado Group in the 1st quarter worth approximately $543,000. Strs Ohio increased its holdings in Movado Group by 7.6% in the 2nd quarter. Strs Ohio now owns 21,200 shares of the company’s stock worth $572,000 after acquiring an additional 1,500 shares in the last quarter. Confluence Investment Management LLC increased its holdings in Movado Group by 1.5% in the 2nd quarter. Confluence Investment Management LLC now owns 173,743 shares of the company’s stock worth $4,691,000 after acquiring an additional 2,590 shares in the last quarter. Finally, Tributary Capital Management LLC purchased a new stake in Movado Group in the 2nd quarter worth approximately $13,221,000. 70.13% of the stock is owned by institutional investors.
MOV has been the topic of a number of recent research reports. TheStreet downgraded shares of Movado Group from a “b-” rating to a “c+” rating in a research report on Monday, June 10th. Cowen downgraded shares of Movado Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $40.00 to $22.00 in a research report on Thursday, August 29th. Finally, Zacks Investment Research cut shares of Movado Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 5th.
Movado Group Company Profile
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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