Movado Group (NYSE:MOV) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Movado Group Inc. (NYSE:MOV) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.11 and traded as high as $18.73. Movado Group shares last traded at $18.67, with a volume of 124,504 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on MOV shares. BWS Financial restated a “buy” rating and issued a $31.50 price target on shares of Movado Group in a research note on Friday, August 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Movado Group in a report on Thursday. Finally, Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Movado Group Stock Up 0.2%

The company has a market cap of $413.32 million, a price-to-earnings ratio of 24.25 and a beta of 1.25. The company has a fifty day simple moving average of $18.75 and a two-hundred day simple moving average of $17.11.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.23 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%. On average, research analysts predict that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Monday, September 8th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date was Monday, September 8th. Movado Group’s dividend payout ratio is 181.82%.

Institutional Investors Weigh In On Movado Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in Movado Group by 13.8% during the third quarter. Lazard Asset Management LLC now owns 52,834 shares of the company’s stock worth $1,002,000 after purchasing an additional 6,425 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of Movado Group during the 3rd quarter valued at $379,000. Two Sigma Investments LP increased its holdings in shares of Movado Group by 288.1% during the 3rd quarter. Two Sigma Investments LP now owns 96,468 shares of the company’s stock worth $1,830,000 after buying an additional 71,614 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Movado Group by 8.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 293,442 shares of the company’s stock worth $5,567,000 after buying an additional 22,685 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Movado Group by 31.3% in the third quarter. Squarepoint Ops LLC now owns 78,096 shares of the company’s stock valued at $1,481,000 after acquiring an additional 18,600 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

About Movado Group

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.