Movado Group, Inc. (NYSE:MOV) Short Interest Down 35.0% in April

Movado Group, Inc. (NYSE:MOV - Get Free Report) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 601,300 shares, a decrease of 35.0% from the March 31st total of 924,600 shares. Based on an average daily trading volume, of 207,900 shares, the short-interest ratio is presently 2.9 days. Approximately 4.0% of the company's stock are short sold.

Analysts Set New Price Targets

Separately, Benchmark reiterated a "buy" rating and issued a $41.00 price target on shares of Movado Group in a research note on Wednesday, March 27th.

Movado Group Price Performance

Shares of MOV traded down $0.31 during mid-day trading on Friday, reaching $25.99. 100,775 shares of the company's stock were exchanged, compared to its average volume of 174,909. The stock has a market capitalization of $575.16 million, a PE ratio of 12.62 and a beta of 1.13. The business's fifty day simple moving average is $27.12 and its 200-day simple moving average is $28.10. Movado Group has a 52-week low of $23.94 and a 52-week high of $31.44.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.55 earnings per share for the quarter. Movado Group had a return on equity of 9.56% and a net margin of 6.94%. The firm had revenue of $179.62 million during the quarter. Equities research analysts predict that Movado Group will post 1.25 earnings per share for the current year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Monday, April 8th. Movado Group's dividend payout ratio is presently 67.96%.

Institutional Investors Weigh In On Movado Group

Hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its holdings in shares of Movado Group by 112.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company's stock worth $32,000 after purchasing an additional 561 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Movado Group by 1,246.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company's stock worth $109,000 after purchasing an additional 3,616 shares during the period. Denali Advisors LLC acquired a new stake in shares of Movado Group during the third quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Movado Group by 50.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,535 shares of the company's stock valued at $137,000 after acquiring an additional 1,529 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in Movado Group in the fourth quarter valued at $205,000. 72.08% of the stock is owned by institutional investors and hedge funds.

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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