Richard Cote Sells 31,135 Shares of Movado (MOV) Stock

Movado (NYSE:MOV) Director Richard Cote sold 31,135 shares of the business’s stock in a transaction on Monday, April 9th. The stock was sold at an average price of $38.34, for a total value of $1,193,715.90. Following the completion of the sale, the director now directly owns 320,387 shares in the company, valued at approximately $12,283,637.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

  • On Thursday, April 5th, Richard Cote sold 77,200 shares of Movado stock. The stock was sold at an average price of $38.00, for a total value of $2,933,600.00.
  • 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value of $53,536.00.

Shares of Movado stock opened at $39.00 on Thursday. The firm has a market cap of $876.27, a PE ratio of 19.50 and a beta of -0.16. Movado has a 12-month low of $20.50 and a 12-month high of $42.25.



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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Wednesday, April 11th will be issued a dividend of $0.20 per share. This is an increase from Movado’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. Movado’s payout ratio is currently 26.00%.

Several hedge funds have recently modified their holdings of MOV. Driehaus Capital Management LLC purchased a new position in shares of Movado during the fourth quarter valued at $4,568,000. BlackRock Inc. grew its holdings in shares of Movado by 4.5% during the fourth quarter. BlackRock Inc. now owns 2,052,460 shares of the company’s stock valued at $66,090,000 after buying an additional 89,273 shares in the last quarter. Bowling Portfolio Management LLC purchased a new position in shares of Movado during the fourth quarter valued at $2,314,000. Royce & Associates LP grew its holdings in shares of Movado by 15.3% during the fourth quarter. Royce & Associates LP now owns 510,826 shares of the company’s stock valued at $16,449,000 after buying an additional 67,677 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Movado by 69.0% during the fourth quarter. Acadian Asset Management LLC now owns 163,060 shares of the company’s stock valued at $5,251,000 after buying an additional 66,580 shares in the last quarter. Institutional investors and hedge funds own 66.02% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. ValuEngine raised Movado from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Cowen reaffirmed a “hold” rating and set a $42.00 target price on shares of Movado in a research report on Monday. Finally, Zacks Investment Research raised Movado from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Movado has an average rating of “Hold” and an average price target of $39.00.

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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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