Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Movado Group, Inc. shares valued at $32,432 were sold by Kennedy Michelle on Jul 17 ’24. At $26.05 per share, Kennedy Michelle sold 1,245 shares. The insider’s holdings dropped to 12,202 shares worth approximately $0.24 million following the completion of this transaction.
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Also, DEMARSILIS SALLIE A sold 31,630 shares, netting a total of over 968,637 in proceeds. Following the sale of shares at $30.62 each, the insider now holds 66,600 shares.
Before that, DEMARSILIS SALLIE A had sold 13,210 shares from its account. In a trade valued at $407,344, the Chief Financial Officer traded Movado Group, Inc. shares for $30.84 each. Upon closing the transaction, the insider’s holdings decreased to 13,210 shares, worth approximately $1.29 million.
As published in their initiating research note from The Benchmark Company on September 29, 2023, Movado Group, Inc. [MOV] has been a Buy and the price target has been revised to $41. Analysts at Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in late August. As of August 22, 2018, Sidoti has increased its “Neutral” rating to a “Buy” for MOV. Earlier on June 12, 2018, Sidoti downgraded its rating. Their new recommendation was “a Neutral” for MOV stock which previously was a “a Buy”.
Analyzing MOV Stock Performance
During the last five days, there has been a surge of approximately 3.60%. Over the course of the year, Movado Group, Inc. shares have dropped approximately -35.99%. Shares of the company reached a 52-week high of $30.44 on 01/02/24 and a 52-week low of $17.86 on 09/25/24. A 50-day SMA is recorded $22.08, while a 200-day SMA reached $25.81. Nevertheless, trading volume fell to 0.56 million shares from 0.36 million shares the previous day.
Support And Resistance Levels for Movado Group, Inc. (MOV)
According to the 24-hour chart, there is a support level at 19.06, which, if violated, would cause prices to drop to 18.81. In the upper region, resistance lies at 19.53. The next price resistance is at 19.75. RSI (Relative Strength Index) is 41.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.15, which suggests the price will decrease in the coming days. Percent R is at 35.70%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
