Movado Group (NYSE:MOV – Get Rating) issued its quarterly earnings data on Thursday. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.36, MarketWatch Earnings reports. Movado Group had a return on equity of 20.78% and a net margin of 12.51%. During the same period last year, the business earned $0.43 earnings per share. Movado Group updated its FY 2023 guidance to EPS.
Shares of MOV traded down $0.06 during midday trading on Friday, hitting $36.55. 5,128 shares of the stock were exchanged, compared to its average volume of 178,442. Movado Group has a 52-week low of $27.69 and a 52-week high of $48.66. The stock has a fifty day simple moving average of $36.63 and a 200 day simple moving average of $38.30. The firm has a market cap of $832.02 million, a P/E ratio of 9.44 and a beta of 1.15.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, June 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.83%. Movado Group’s dividend payout ratio is currently 36.08%.
In other Movado Group news, Director Ann Kirschner sold 3,800 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $39.41, for a total value of $149,758.00. Following the sale, the director now directly owns 13,897 shares in the company, valued at $547,680.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Isserman sold 5,000 shares of Movado Group stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $37.86, for a total value of $189,300.00. Following the sale, the director now owns 16,962 shares in the company, valued at approximately $642,181.32. The disclosure for this sale can be found here. Company insiders own 28.42% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in Movado Group by 14.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 17,921 shares of the company’s stock valued at $700,000 after acquiring an additional 2,233 shares during the period. Quantbot Technologies LP increased its position in Movado Group by 153.3% in the 1st quarter. Quantbot Technologies LP now owns 2,839 shares of the company’s stock valued at $110,000 after acquiring an additional 1,718 shares during the period. Royal Bank of Canada increased its position in Movado Group by 8.2% in the 1st quarter. Royal Bank of Canada now owns 21,306 shares of the company’s stock valued at $831,000 after acquiring an additional 1,618 shares during the period. PDT Partners LLC increased its position in Movado Group by 59.3% in the 1st quarter. PDT Partners LLC now owns 18,374 shares of the company’s stock valued at $718,000 after acquiring an additional 6,843 shares during the period. Finally, Captrust Financial Advisors increased its position in Movado Group by 89.5% in the 1st quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock valued at $42,000 after acquiring an additional 511 shares during the period. Institutional investors and hedge funds own 65.26% of the company’s stock.
Movado Group Company Profile (Get Rating)
Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari.
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