Nisa Investment Advisors LLC cut its position in shares of Movado Group Inc. (NYSE:MOV) by 19.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,700 shares of the company’s stock after selling 3,900 shares during the period. Nisa Investment Advisors LLC’s holdings in Movado Group were worth $340,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Foundry Partners LLC acquired a new position in Movado Group during the second quarter worth $2,257,000. BNP Paribas Arbitrage SA raised its position in Movado Group by 85.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,923 shares of the company’s stock worth $128,000 after buying an additional 2,725 shares during the period. Arizona State Retirement System raised its position in Movado Group by 2.5% in the first quarter. Arizona State Retirement System now owns 8,323 shares of the company’s stock worth $229,000 after buying an additional 200 shares during the period. Panagora Asset Management Inc. raised its position in Movado Group by 20.5% in the first quarter. Panagora Asset Management Inc. now owns 196,289 shares of the company’s stock worth $5,404,000 after buying an additional 33,412 shares during the period. Finally, AMP Capital Investors Ltd raised its position in Movado Group by 29.0% in the first quarter. AMP Capital Investors Ltd now owns 11,130 shares of the company’s stock worth $338,000 after buying an additional 2,500 shares during the period. 66.28% of the stock is currently owned by hedge funds and other institutional investors.
Movado Group Inc. (NYSE:MOV) traded up 0.31% on Friday, hitting $22.50. 141,436 shares of the company were exchanged. Movado Group Inc. has a 52 week low of $19.14 and a 52 week high of $30.98. The stock has a market capitalization of $516.38 million, a P/E ratio of 13.45 and a beta of 0.95. The company has a 50 day moving average price of $22.58 and a 200-day moving average price of $24.30.
Movado Group (NYSE:MOV) last posted its quarterly earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.04. Movado Group had a net margin of 6.84% and a return on equity of 9.15%. The firm had revenue of $128.10 million for the quarter, compared to the consensus estimate of $135.92 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 12.0% compared to the same quarter last year. On average, equities analysts expect that Movado Group Inc. will post $1.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Tuesday, September 6th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.52 dividend on an annualized basis and a yield of 2.31%. Movado Group’s dividend payout ratio is currently 31.14%.
A number of research firms have weighed in on MOV. Cowen and Company reaffirmed a “market perform” rating and issued a $24.00 price objective on shares of Movado Group in a research note on Monday, September 12th. Zacks Investment Research lowered shares of Movado Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $29.00.
Movado Group Company Profile
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains, department stores and independent jewelers.
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