Movado Group (NYSE:MOV) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Movado shares crossed above their 200‑day moving average, trading as high as $27.12 and last at $27.03 versus a 200‑day MA of $22.62.
• Analysts hold a consensus rating of Moderate Buy with an average price target of $30.75 after recent upgrades and coverage starts from Zacks, Northland, BWS and Wall Street Zen.
• The company beat quarterly estimates (EPS $0.57 vs. $0.52; revenue $191.6M vs. $182.0M), pays a $0.35 quarterly dividend (a 5.2% yield) though with a high payout ratio of 120.69%, and saw notable institutional buying including a large increase by Goldman Sachs.

Movado Group Inc. (NYSE:MOV - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.62 and traded as high as $27.12. Movado Group shares last traded at $27.0260, with a volume of 108,203 shares.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MOV. Zacks Research upgraded shares of Movado Group from a "strong sell" rating to a "hold" rating in a report on Monday, January 26th. Northland Securities began coverage on shares of Movado Group in a report on Wednesday, January 7th. They issued an "outperform" rating and a $30.00 price objective for the company. BWS Financial restated a "buy" rating and issued a $31.50 price objective on shares of Movado Group in a report on Friday, March 20th. Finally, Wall Street Zen upgraded shares of Movado Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Movado Group currently has a consensus rating of "Moderate Buy" and an average target price of $30.75.

Movado Group Price Performance

The firm's 50 day moving average is $25.38 and its 200 day moving average is $22.62. The company has a market capitalization of $596.73 million, a PE ratio of 23.30 and a beta of 0.86.

Movado Group (NYSE:MOV - Get Free Report) last issued its earnings results on Thursday, March 19th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. The company had revenue of $191.58 million for the quarter, compared to the consensus estimate of $182.02 million. As a group, analysts predict that Movado Group Inc. will post 1.53 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 2nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, April 2nd. Movado Group's payout ratio is presently 120.69%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MOV. Royal Bank of Canada increased its stake in shares of Movado Group by 4.1% in the first quarter. Royal Bank of Canada now owns 26,524 shares of the company's stock worth $444,000 after buying an additional 1,042 shares during the period. AQR Capital Management LLC increased its position in Movado Group by 26.5% during the 1st quarter. AQR Capital Management LLC now owns 129,746 shares of the company's stock valued at $2,169,000 after purchasing an additional 27,182 shares during the period. Goldman Sachs Group Inc. increased its position in Movado Group by 212.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock valued at $11,226,000 after purchasing an additional 456,727 shares during the period. Empowered Funds LLC increased its position in Movado Group by 5.5% during the 1st quarter. Empowered Funds LLC now owns 108,377 shares of the company's stock valued at $1,812,000 after purchasing an additional 5,697 shares during the period. Finally, Jane Street Group LLC increased its position in Movado Group by 11.4% during the 1st quarter. Jane Street Group LLC now owns 104,188 shares of the company's stock valued at $1,742,000 after purchasing an additional 10,670 shares during the period. 72.08% of the stock is owned by hedge funds and other institutional investors.

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.

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