Efraim Grinberg Sells 17,741 Shares of Movado Group, Inc. (NYSE:MOV) Stock

Movado Group, Inc. (NYSE:MOV) CEO Efraim Grinberg sold 17,741 shares of the firm’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $30.13, for a total value of $534,536.33. Following the completion of the sale, the chief executive officer now directly owns 215,248 shares of the company’s stock, valued at approximately $6,485,422.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Efraim Grinberg also recently made the following trade(s):

  • On Wednesday, June 2nd, Efraim Grinberg sold 2,259 shares of Movado Group stock. The shares were sold at an average price of $30.02, for a total value of $67,815.18.

NYSE MOV opened at $29.97 on Friday. The company has a market cap of $700.70 million, a P/E ratio of 14.69 and a beta of 1.23. The company has a current ratio of 4.22, a quick ratio of 2.74 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $30.26. Movado Group, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $33.00.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Wednesday, May 26th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.52. Movado Group had a return on equity of 10.95% and a net margin of 8.38%. On average, research analysts expect that Movado Group, Inc. will post 2.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 23rd. Stockholders of record on Wednesday, June 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Tuesday, June 8th. Movado Group’s payout ratio is 86.96%.

A number of institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP grew its holdings in Movado Group by 80.0% in the fourth quarter. Susquehanna International Group LLP now owns 68,460 shares of the company’s stock valued at $1,138,000 after purchasing an additional 30,430 shares during the period. Citigroup Inc. raised its position in Movado Group by 264.5% in the fourth quarter. Citigroup Inc. now owns 4,097 shares of the company’s stock valued at $69,000 after purchasing an additional 2,973 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Movado Group in the first quarter valued at $4,287,000. Pitcairn Co. grew its stake in shares of Movado Group by 2.7% in the first quarter. Pitcairn Co. now owns 16,139 shares of the company’s stock valued at $459,000 after buying an additional 426 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Movado Group by 10.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 56,029 shares of the company’s stock worth $1,594,000 after purchasing an additional 5,399 shares in the last quarter. 62.16% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on MOV shares. TheStreet raised Movado Group from a “d+” rating to a “c-” rating in a research report on Thursday, February 25th. Zacks Investment Research downgraded Movado Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 1st. Finally, Cowen boosted their price target on Movado Group from $20.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, March 26th.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. It 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, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Scuderia Ferrari.

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