Movado Group, Inc (MOV) Director Purchases $256,860.00 in Stock
Movado Group, Inc (NYSE:MOV) Director Stephen I. Sadove acquired 6,000 shares of the business’s stock in a transaction on Friday, August 31st. The shares were purchased at an average price of $42.81 per share, with a total value of $256,860.00. Following the transaction, the director now owns 6,000 shares in the company, valued at approximately $256,860. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NYSE:MOV traded down $0.70 on Tuesday, reaching $41.90. 352,800 shares of the company were exchanged, compared to its average volume of 175,041. Movado Group, Inc has a 1-year low of $26.09 and a 1-year high of $53.72. The stock has a market cap of $983.89 million, a PE ratio of 21.43 and a beta of -0.15.
Movado Group (NYSE:MOV) last posted its quarterly earnings results on Wednesday, August 29th. The company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. Movado Group had a net margin of 0.12% and a return on equity of 11.81%. The business had revenue of $144.10 million for the quarter, compared to analysts’ expectations of $137.50 million. During the same period in the prior year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. analysts forecast that Movado Group, Inc will post 2.52 EPS for the current year.
Several large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of Movado Group by 3.0% during the 2nd quarter. Rhumbline Advisers now owns 38,818 shares of the company’s stock worth $1,875,000 after purchasing an additional 1,140 shares during the period. Cambria Investment Management L.P. grew its stake in shares of Movado Group by 11.5% during the 2nd quarter. Cambria Investment Management L.P. now owns 11,665 shares of the company’s stock worth $563,000 after purchasing an additional 1,206 shares during the period. Virginia Retirement Systems ET AL grew its stake in shares of Movado Group by 7.4% during the 1st quarter. Virginia Retirement Systems ET AL now owns 20,200 shares of the company’s stock worth $776,000 after purchasing an additional 1,400 shares during the period. Citigroup Inc. grew its stake in shares of Movado Group by 13.9% during the 1st quarter. Citigroup Inc. now owns 13,008 shares of the company’s stock worth $500,000 after purchasing an additional 1,585 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Movado Group by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 119,516 shares of the company’s stock worth $4,589,000 after purchasing an additional 2,549 shares during the period. 67.72% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on MOV. Sidoti downgraded shares of Movado Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 12th. ValuEngine upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 1st. Finally, Zacks Investment Research cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $45.50.
About Movado Group
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.
Featured Story: Marijuana Stocks
Receive News & Ratings for Movado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group and related companies with MarketBeat.com's FREE daily email newsletter.