Movado Group (NYSE:MOV) Director Alexander Grinberg Sells 4,935 Shares

Key Points

• Director sale: On January 5, director Alexander Grinberg sold 4,935 shares at an average price of $43.05 for $212,451.75, cutting his stake by 17.02% to 24,066 shares worth about $1.04M.
• Dividend announced: Movado declared a quarterly dividend of $0.35 per share (annualized $1.40), yielding 5.9%, with an ex-dividend and record date of April 2 and payment on April 16; the dividend payout ratio is a high 120.69%.
• Quarterly results & outlook: Movado beat estimates with Q EPS of $0.57 vs. $0.52 and revenue of $191.58M vs. $182.02M, and analysts hold a consensus rating of "Moderate Buy" with an average target of $30.75.

Movado Group Inc. (NYSE:MOV - Get Free Report) Director Alexander Grinberg sold 4,935 shares of the company's stock in a transaction dated Wednesday, January 5th. The shares were sold at an average price of $43.05, for a total transaction of $212,451.75. Following the sale, the director directly owned 24,066 shares in the company, valued at approximately $1,036,041.30. This trade represents a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Movado Group Stock Down 3.5%

MOV traded down $0.85 on Thursday, hitting $23.77. The company's stock had a trading volume of 127,818 shares, compared to its average volume of 150,289. Movado Group Inc. has a 12 month low of $12.85 and a 12 month high of $25.85. The firm has a market cap of $524.75 million, a P/E ratio of 20.49 and a beta of 0.93. The company's 50 day simple moving average is $24.10 and its 200-day simple moving average is $21.39.

Movado Group (NYSE:MOV - Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.05. Movado Group had a return on equity of 6.09% and a net margin of 3.96%.The business had revenue of $191.58 million during the quarter, compared to analyst estimates of $182.02 million. Equities analysts predict that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.40 annualized dividend and a dividend yield of 5.9%. Movado Group's dividend payout ratio (DPR) is currently 120.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in shares of Movado Group by 39.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company's stock worth $33,000 after purchasing an additional 449 shares during the period. Comerica Bank increased 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 valued at $34,000 after buying an additional 888 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Movado Group by 70.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company's stock worth $36,000 after buying an additional 724 shares in the last quarter. State of Wyoming bought a new position in Movado Group in the second quarter worth about $40,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Movado Group in the fourth quarter worth about $42,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MOV. Northland Securities started coverage on Movado Group in a research report on Wednesday, January 7th. They set an "outperform" rating and a $30.00 price target on the stock. Zacks Research upgraded Movado Group from a "strong sell" rating to a "hold" rating in a research report on Monday, January 26th. Wall Street Zen raised Movado Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Weiss Ratings restated a "hold (c)" rating on shares of Movado Group in a report on Monday, December 29th. Finally, BWS Financial reiterated a "buy" rating and set a $31.50 price target on shares of Movado Group in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.75.

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.

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