Short Interest in Movado Group Inc. (NYSE:MOV) Expands By 26.2%

Movado Group Inc. (NYSE:MOV) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 367,006 shares, a growth of 26.2% from the December 31st total of 290,875 shares. Based on an average daily trading volume, of 140,739 shares, the short-interest ratio is presently 2.6 days. Approximately 2.4% of the company’s stock are short sold. Approximately 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 140,739 shares, the short-interest ratio is presently 2.6 days.

Movado Group Stock Performance

Shares of NYSE:MOV traded up $0.72 during trading hours on Tuesday, hitting $24.43. The stock had a trading volume of 181,894 shares, compared to its average volume of 135,932. The stock’s fifty day simple moving average is $21.74 and its 200 day simple moving average is $19.31. The firm has a market capitalization of $540.88 million, a price-to-earnings ratio of 25.19 and a beta of 0.95. Movado Group has a 1-year low of $12.85 and a 1-year high of $24.48.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Tuesday, November 25th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). The business had revenue of $186.13 million during the quarter, compared to the consensus estimate of $185.89 million. Movado Group had a return on equity of 5.86% and a net margin of 3.33%.During the same period last year, the company earned $0.22 earnings per share. As a group, research analysts anticipate that Movado Group will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 8th. This represents a $1.40 annualized dividend and a dividend yield of 5.7%. Movado Group’s dividend payout ratio (DPR) is 144.33%.

Insider Activity

In other Movado Group news, SVP Michelle Kennedy sold 1,290 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total value of $26,948.10. Following the completion of the transaction, the senior vice president owned 27,857 shares in the company, valued at $581,932.73. This represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Movado Group

Institutional investors have recently bought and sold shares of the stock. Comerica Bank raised its stake in shares of Movado Group by 99.0% during the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after purchasing an additional 888 shares in the last quarter. CWM LLC increased its holdings in Movado Group by 49.9% in the second quarter. CWM LLC now owns 2,588 shares of the company’s stock worth $39,000 after buying an additional 862 shares during the last quarter. State of Wyoming bought a new position in Movado Group during the second quarter valued at approximately $40,000. Laurel Wealth Advisors LLC acquired a new stake in Movado Group in the fourth quarter valued at approximately $42,000. Finally, Strs Ohio bought a new stake in Movado Group in the fourth quarter worth approximately $66,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analyst Ratings Changes

MOV has been the subject of several research reports. Wall Street Zen lowered shares of Movado Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 24th. Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. BWS Financial restated a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. Finally, Northland Securities assumed coverage on Movado Group in a report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

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.