Movado (MOV) Director Richard Cote Sells 13,077 Shares of Stock

Movado (NYSE:MOV) Director Richard Cote sold 13,077 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $38.29, for a total value of $500,718.33. Following the transaction, the director now owns 249,498 shares in the company, valued at $9,553,278.42. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

  • On Tuesday, April 24th, Richard Cote sold 28,693 shares of Movado stock. The shares were sold at an average price of $38.39, for a total value of $1,101,524.27.
  • On Tuesday, April 17th, Richard Cote sold 45,000 shares of Movado stock. The shares were sold at an average price of $39.73, for a total value of $1,787,850.00.
  • On Monday, April 9th, Richard Cote sold 31,135 shares of Movado stock. The shares were sold at an average price of $38.34, for a total value of $1,193,715.90.
  • 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.

MOV remained flat at $$38.25 during trading hours on Friday. The company had a trading volume of 34,609 shares, compared to its average volume of 139,223. Movado has a 52 week low of $20.50 and a 52 week high of $42.25. The stock has a market cap of $883.15, a price-to-earnings ratio of 19.13 and a beta of -0.15.

Movado (NYSE:MOV) last announced its quarterly earnings data 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 positive return on equity of 9.78% and a negative net margin of 2.68%. The company had revenue of $149.20 million during the quarter, compared to analyst estimates of $132.43 million. During the same quarter last year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. sell-side analysts expect that Movado will post 2.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 25th. Shareholders of record on Wednesday, April 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Tuesday, April 10th. This is a positive change from Movado’s previous quarterly dividend of $0.13. Movado’s payout ratio is presently 40.00%.

Several equities research analysts recently weighed in on MOV shares. Zacks Investment Research raised Movado from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Thursday, February 22nd. Cowen reissued a “hold” rating and issued a $42.00 price objective on shares of Movado in a report on Monday, April 9th. Finally, ValuEngine raised Movado from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $39.00.

Hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its holdings in Movado by 21.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 126,240 shares of the company’s stock valued at $4,065,000 after buying an additional 22,600 shares in the last quarter. California Public Employees Retirement System grew its holdings in Movado by 5.6% during the 4th quarter. California Public Employees Retirement System now owns 65,131 shares of the company’s stock valued at $2,097,000 after buying an additional 3,427 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Movado during the 3rd quarter valued at about $307,000. Royce & Associates LP grew its holdings in Movado by 15.3% during the 4th 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, Crossmark Global Holdings Inc. purchased a new position in Movado during the 4th quarter valued at about $206,000. 65.97% of the stock is owned by institutional investors and hedge funds.

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 Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.

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

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