Movado Group Inc. (NYSE:MOV) Short Interest Update

Movado Group Inc. (NYSE:MOV) was the recipient of a large 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 trading volume of 140,739 shares, the short-interest ratio is currently 2.6 days. Approximately 2.4% of the shares of the stock are short sold. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 140,739 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

MOV has been the topic of several research reports. Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. BWS Financial reissued a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research note on Monday. Northland Securities initiated coverage on Movado Group in a report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Movado Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.75.

Insider Buying and Selling at Movado Group

In related news, SVP Michelle Kennedy sold 1,290 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $20.89, for a total value of $26,948.10. Following the completion of the sale, the senior vice president owned 27,857 shares of the company’s stock, valued at approximately $581,932.73. The trade was a 4.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Movado Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MOV. Goldman Sachs Group Inc. lifted its stake in Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock worth $11,226,000 after purchasing an additional 456,727 shares during the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Movado Group during the 2nd quarter worth approximately $5,540,000. Russell Investments Group Ltd. boosted its holdings in shares of Movado Group by 426.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 176,015 shares of the company’s stock valued at $2,684,000 after buying an additional 142,601 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Movado Group by 153.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 161,178 shares of the company’s stock valued at $2,458,000 after buying an additional 97,566 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Movado Group by 14.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock worth $9,712,000 after acquiring an additional 80,109 shares in the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Trading Up 3.0%

MOV stock traded up $0.72 during midday trading on Tuesday, hitting $24.43. 181,894 shares of the company’s stock were exchanged, compared to its average volume of 135,932. Movado Group has a 1-year low of $12.85 and a 1-year high of $24.48. The stock has a market capitalization of $540.88 million, a PE ratio of 25.19 and a beta of 0.95. The business has a 50-day simple moving average of $21.74 and a two-hundred day simple moving average of $19.31.

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

Movado Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Monday, December 8th. Movado Group’s payout ratio is currently 144.33%.

About Movado Group

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.