Systematic Financial Management LP reduced its position in Movado Group, Inc (NYSE:MOV) by 50.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 50,146 shares of the company’s stock after selling 51,055 shares during the quarter. Systematic Financial Management LP’s holdings in Movado Group were worth $1,824,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MOV. Cutler Group LP purchased a new stake in shares of Movado Group during the 4th quarter worth $28,000. NumerixS Investment Technologies Inc boosted its position in shares of Movado Group by 633.3% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the company’s stock worth $68,000 after purchasing an additional 1,900 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Movado Group during the 4th quarter worth $149,000. State of Alaska Department of Revenue boosted its position in shares of Movado Group by 6.9% during the 4th quarter. State of Alaska Department of Revenue now owns 5,515 shares of the company’s stock worth $174,000 after purchasing an additional 356 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Movado Group by 385.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,763 shares of the company’s stock worth $182,000 after purchasing an additional 4,576 shares in the last quarter. 69.74% of the stock is currently owned by institutional investors.
In other Movado Group news, CEO Efraim Grinberg sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $34.47, for a total transaction of $689,400.00. Following the sale, the chief executive officer now directly owns 204,829 shares in the company, valued at approximately $7,060,455.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.92% of the stock is currently owned by insiders.
Shares of NYSE MOV opened at $34.63 on Thursday. The firm has a market cap of $799.70 million, a price-to-earnings ratio of 12.97 and a beta of 0.13. Movado Group, Inc has a one year low of $28.76 and a one year high of $53.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.69 and a current ratio of 4.15.
Movado Group (NYSE:MOV) last issued its earnings results on Thursday, March 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. The company had revenue of $199.40 million for the quarter, compared to analyst estimates of $194.00 million. Movado Group had a net margin of 9.07% and a return on equity of 13.27%. The business’s revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Analysts forecast that Movado Group, Inc will post 2.77 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.31%. Movado Group’s payout ratio is currently 29.96%.
About Movado Group
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.
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