Movado Group (NYSE:MOV) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Movado Group Inc. (NYSE:MOV) shares passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $31.13 and traded as high as $32.31. Movado Group shares last traded at $31.9960, with a volume of 105,003 shares.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BWS Financial reissued a “buy” rating and issued a $45.00 target price on shares of Movado Group in a research note on Tuesday, September 1st. Weiss Ratings cut Movado Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Wall Street Zen raised Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Zacks Research downgraded Movado Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Movado Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Movado Group Price Performance

The stock has a market cap of $725.19 million, a PE ratio of 18.06 and a beta of 0.90. The stock’s fifty day moving average is $32.60 and its 200-day moving average is $31.23.

Movado Group (NYSE:MOV) last issued its earnings results on Wednesday, August 26th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.19. The company had revenue of $169.75 million for the quarter, compared to the consensus estimate of $164.20 million. Movado Group had a net margin of 6.00% and a return on equity of 8.49%. On average, sell-side analysts expect that Movado Group Inc. will post 1.94 EPS for the current fiscal year.

Movado Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.9%. Movado Group’s dividend payout ratio is currently 88.89%.

Institutional Trading of Movado Group

Several institutional investors and hedge funds have recently bought and sold shares of MOV. Ieq Capital LLC lifted its holdings in shares of Movado Group by 16.7% in the 3rd quarter. Ieq Capital LLC now owns 16,268 shares of the company’s stock worth $541,000 after acquiring an additional 2,326 shares during the last quarter. Russell Investments Group Ltd. raised its position in Movado Group by 52.4% in the third quarter. Russell Investments Group Ltd. now owns 94,961 shares of the company’s stock valued at $3,165,000 after purchasing an additional 32,638 shares during the period. Ritholtz Wealth Management raised its position in Movado Group by 11.9% in the third quarter. Ritholtz Wealth Management now owns 96,076 shares of the company’s stock valued at $3,197,000 after purchasing an additional 10,236 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in Movado Group in the third quarter valued at approximately $68,000. Finally, Signaturefd LLC lifted its stake in Movado Group by 79.1% during the third quarter. Signaturefd LLC now owns 2,765 shares of the company’s stock worth $92,000 after purchasing an additional 1,221 shares in the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Company Profile

Movado Group designs, sources, markets and distributes watches and other accessories. Its portfolio includes its namesake Movado brand and other owned brands, as well as products made under licensing agreements with fashion and lifestyle brands. The company sells through wholesale partners, its own retail stores and e-commerce channels. The company traces its origins to 1881, when watchmaker Achille Ditesheim established a watchmaking business in La Chaux-de-Fonds, Switzerland. The Movado name was adopted in 1905; it means “always in motion” in Esperanto.