Movado Group (NYSE:MOV) Downgraded by StockNews.com

Movado Group (NYSE:MOV) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, Benchmark reissued a “buy” rating and set a $41.00 price objective on shares of Movado Group in a research note on Friday, May 31st.

Movado Group Price Performance

Shares of NYSE MOV traded down $0.37 on Friday, hitting $18.90. The company’s stock had a trading volume of 457,162 shares, compared to its average volume of 159,630. Movado Group has a 12-month low of $18.71 and a 12-month high of $31.44. The company has a market capitalization of $419.77 million, a price-to-earnings ratio of 10.56 and a beta of 1.00. The stock has a 50 day moving average of $24.33 and a 200-day moving average of $25.81.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The business had revenue of $159.31 million during the quarter. Movado Group had a net margin of 6.09% and a return on equity of 8.18%. During the same quarter in the previous year, the business earned $0.38 earnings per share. Sell-side analysts expect that Movado Group will post 1.25 EPS for the current fiscal year.

Insider Activity at Movado Group

In other Movado Group news, SVP Michelle Kennedy sold 1,245 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total transaction of $32,432.25. Following the transaction, the senior vice president now owns 12,202 shares of the company’s stock, valued at $317,862.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Movado Group

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Movado Group by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,241,890 shares of the company’s stock worth $37,443,000 after purchasing an additional 19,994 shares during the period. Pacer Advisors Inc. increased its position in shares of Movado Group by 3.9% in the second quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock worth $25,210,000 after acquiring an additional 38,038 shares in the last quarter. American Century Companies Inc. increased its position in shares of Movado Group by 14.8% in the second quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock worth $8,341,000 after acquiring an additional 43,316 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Movado Group by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,906 shares of the company’s stock worth $7,173,000 after acquiring an additional 11,876 shares in the last quarter. Finally, Denali Advisors LLC increased its position in shares of Movado Group by 101.0% in the second quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock worth $4,818,000 after acquiring an additional 97,400 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

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.