Movado Group (NYSE:MOV) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Movado Group's share price surpassed its 200-day moving average of $16.44 and reached a high of $19.35 during trading, closing at $18.83.
• Analysts have mixed ratings on the stock; it currently holds a consensus rating of "Hold" with a price target of $31.50, despite a recent downgrade from Zacks to a "strong sell" rating.
• The company announced a quarterly dividend of $0.35, which translates to a 7.4% yield, despite an unusually high payout ratio of 181.82%.

Movado Group Inc. (NYSE:MOV - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $16.44 and traded as high as $19.35. Movado Group shares last traded at $18.83, with a volume of 131,711 shares.

Wall Street Analysts Forecast Growth

MOV has been the topic of several recent analyst reports. Zacks Research lowered Movado Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Movado Group in a research note on Saturday, September 27th. Wall Street Zen upgraded Movado Group from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, BWS Financial restated a "buy" rating and set a $31.50 price objective on shares of Movado Group in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $31.50.

Movado Group Stock Performance

The company has a market capitalization of $416.90 million, a price-to-earnings ratio of 24.45 and a beta of 1.22. The business has a 50 day moving average price of $17.89 and a 200-day moving average price of $16.44.

Movado Group (NYSE:MOV - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.08). The business had revenue of $161.83 million during the quarter, compared to analyst estimates of $156.84 million. Movado Group had a net margin of 2.66% and a return on equity of 5.45%. As a group, equities analysts predict that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Monday, September 8th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Monday, September 8th. Movado Group's payout ratio is presently 181.82%.

Institutional Trading of Movado Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOV. Bank of America Corp DE increased its position in Movado Group by 40.9% in the 4th quarter. Bank of America Corp DE now owns 36,545 shares of the company's stock valued at $719,000 after buying an additional 10,609 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Movado Group by 71.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,277 shares of the company's stock valued at $556,000 after buying an additional 11,783 shares in the last quarter. GAMMA Investing LLC increased its position in Movado Group by 3,303.5% in the 1st quarter. GAMMA Investing LLC now owns 2,893 shares of the company's stock valued at $48,000 after buying an additional 2,808 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Movado Group by 1,597.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company's stock worth $57,000 after purchasing an additional 3,211 shares in the last quarter. Finally, North Star Investment Management Corp. increased its holdings in Movado Group by 15.4% during the 1st quarter. North Star Investment Management Corp. now owns 107,025 shares of the company's stock worth $1,789,000 after purchasing an additional 14,300 shares in the last quarter. 72.08% of the stock is owned by institutional investors.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.

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