Insider Selling: Movado (MOV) Director Sells $2,933,600.00 in Stock

Posted by Joseph Griffin on Apr 9th, 2018 // No Comments

Movado (NYSE:MOV) Director Richard Cote sold 77,200 shares of the business’s stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $38.00, for a total transaction of $2,933,600.00. Following the transaction, the director now owns 22,929 shares in the company, valued at $871,302. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Richard Cote also recently made the following trade(s):

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On Tuesday, March 27th, Richard Cote sold 1,600 shares of Movado stock. The stock was sold at an average price of $32.68, for a total transaction of $52,288.00.
On Tuesday, March 20th, Richard Cote sold 1,300 shares of Movado stock. The stock was sold at an average price of $32.00, for a total transaction of $41,600.00.
On Tuesday, March 13th, Richard Cote sold 1,200 shares of Movado stock. The stock was sold at an average price of $31.98, for a total transaction of $38,376.00.
On Tuesday, March 6th, Richard Cote sold 1,200 shares of Movado stock. The stock was sold at an average price of $31.27, for a total transaction of $37,524.00.
On Monday, February 26th, Richard Cote sold 1,000 shares of Movado stock. The stock was sold at an average price of $32.00, for a total transaction of $32,000.00.
On Tuesday, February 13th, Richard Cote sold 800 shares of Movado stock. The stock was sold at an average price of $30.85, for a total transaction of $24,680.00.
On Tuesday, February 6th, Richard Cote sold 500 shares of Movado stock. The stock was sold at an average price of $29.07, for a total transaction of $14,535.00.
On Tuesday, January 30th, Richard Cote sold 1,600 shares of Movado stock. The stock was sold at an average price of $32.05, for a total transaction of $51,280.00.
On Tuesday, January 23rd, Richard Cote sold 1,600 shares of Movado stock. The stock was sold at an average price of $33.46, for a total transaction of $53,536.00.
On Tuesday, January 16th, Richard Cote sold 1,600 shares of Movado stock. The stock was sold at an average price of $32.49, for a total transaction of $51,984.00.

Shares of MOV opened at $38.55 on Monday. Movado has a twelve month low of $20.50 and a twelve month high of $42.25. The stock has a market cap of $884.30, a price-to-earnings ratio of 19.28 and a beta of -0.16.

Movado (NYSE:MOV) last issued its earnings results on Thursday, March 29th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.26. Movado had a negative net margin of 2.68% and a positive return on equity of 9.78%. The company had revenue of $149.20 million for the quarter, compared to analyst estimates of $132.43 million. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. equities analysts anticipate that Movado will post 2.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Wednesday, April 11th will be given a dividend of $0.20 per share. This is a positive change from Movado’s previous quarterly dividend of $0.13. This represents a $0.80 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, April 10th. Movado’s dividend payout ratio is presently 26.00%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Movado during the fourth quarter worth about $328,000. MetLife Investment Advisors LLC acquired a new position in Movado during the fourth quarter worth about $257,000. Macquarie Group Ltd. grew its position in Movado by 59.9% during the fourth quarter. Macquarie Group Ltd. now owns 23,509 shares of the company’s stock worth $757,000 after buying an additional 8,809 shares during the period. PEAK6 Investments L.P. acquired a new position in Movado during the fourth quarter worth about $1,145,000. Finally, Millennium Management LLC grew its position in Movado by 102.9% during the fourth quarter. Millennium Management LLC now owns 119,302 shares of the company’s stock worth $3,842,000 after buying an additional 60,516 shares during the period. Institutional investors own 66.06% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Movado from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, March 14th. ValuEngine upgraded shares of Movado from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.

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About Movado

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 Ebel, Concord, Movado, ESQ Movado, Coach, HUGO BOSS, Juicy Couture, Lacoste, Tommy Hilfiger, and SCUDERIA FERRARI brands.

Insider Buying and Selling by Quarter for Movado (NYSE:MOV)

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