BlackRock Fund Advisors has recently announced that it has increased stake in Movado Group Inc. (NYSE:MOV) by 0.65%. After grabbing 2.36 million shares, the institutional investor is now in possession of 15249.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 15.00% having worth around $75.99 million. Moreover, Royce & Associates LP increased its share by 0.27 million to have a control over 1.6 million shares. And Dimensional Fund Advisors LP raised its holdings to 19712.0 shares by acquiring 1.22 million shares or 7.74% of the stake.
Movado Group Inc. (MOV) concluded trading on 01/19/23 at a closing price of $33.63, with 0.16 million shares of worth about $5.42 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -3.89% during that period and on Thursday the price saw a loss of about -2.21%. Currently the company’s common shares owned by public are about 22.38M shares, out of which, 15.47M shares are available for trading.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the MOV stock and their offered price forecasts bring an average price target of $38.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $38.00 and could fall to a lowest price of $38.00. The stock’s current price level is 11.5% above of average price target set by the analysts, while a rise to estimated low would result in gain of 11.5% for the stock. However, touching the estimated high of $38.00 would mean a gain of 11.5% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 19 times over the past 12 months. They bought 61,521 shares in 11 of the transactions. In 8 selling transactions, insiders dumped 26,589 shares.
iShares Core S&P Small Cap ETF, Royce Small-Cap Special Equity Fu, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Movado Group Inc. iShares Core S&P Small Cap ETF is currently holding 1.18 million shares of worth totaling $37.91 million. The company recently came selling 888.0 shares which brought its stake up to 7.48% of the company’s outstanding shares. Royce Small-Cap Special Equity Fu bought 91700.0 shares, after which its hold over company’s outstanding shares expand to 5.22%, leaving 0.82 million shares with the mutual fund that have a worth of about $26.45 million. Vanguard Total Stock Market Index, after buying 0.45 million shares, have now control over 2.84% of the stake in the company. It holds 0.0 shares of worth $14.38 million.
Movado Group Inc. (NYSE: MOV) started trading at $34.42, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 34.42, or with a loss of -2.21%. Stock saw a price change of -4.13% in past 5 days and over the past one month there was a price change of 7.82%. Year-to-date (YTD), MOV shares are showing a performance of 4.28% which decreased to -11.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $27.72 but also hit the highest price of $41.75 during that period. The average intraday trading volume for Movado Group Inc. shares is 145.02K. The stock is currently trading 2.17% above its 20-day simple moving average (SMA20), while that difference is up 3.00% for SMA50 and it goes to 0.95% higher than SMA200.
BlackRock Fund Advisors acquired 2.36 million shares of Movado Group Inc. having value of about $75.99 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 15249.0 shares in the company valued at close to $512823.87, or have control over 0.65% stake in the company. Movado Group Inc. (NYSE: MOV) currently have 22.38M outstanding shares and institutions hold larger chunk of about 96.50% of that. Holding of mutual funds in the company is about 65.11% while other institutional holders and individual stake holders have control over 7.04% and 32.18% of the stake respectively.
The stock has a current market capitalization of $741.54M and its 3Y-monthly beta is at 1.20. PE ratio of stock for trailing 12 months is 7.67, while it has posted earnings per share of $4.38 in the same period. Its PEG reads 0.51 and has Quick Ratio of 2.10 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MOV, volatility over the week remained 2.91% while standing at 3.24% over the month.
Analysts are in expectations that Movado Group Inc. (MOV) stock would likely to be making an EPS of $1.21 in the current quarter, while forecast for next quarter EPS is $1.18 and it is $4.51 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.21 which is $1.21 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.36 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 172.60% while it is estimated to increase by 14.96% in next year. EPS is likely to shrink at an annualized rate of 15.00% for next 5-years, compared to annual growth of 20.30% made by the stock over the past 5-years.
Analysts at 1 brokerage firms have issued recommendations for the Movado Group Inc. (MOV)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 1 Wall Street analysts, 0 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Cowen on August 29, 2019 offering a Market perform rating for the stock and assigned a target price range of between $40 and $22 to it. On June 12, 2018, Sidoti Downgrade their recommendations, while on January 30, 2017, Sidoti Upgrade their ratings for the stock with a price target of $34. Stock get a Neutral rating from Sidoti on December 15, 2016.
