Movado Group (NYSE:MOV) Shares Gap Down to $26.52

Movado Group, Inc. (NYSE:MOV)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $26.52, but opened at $24.73. Movado Group shares last traded at $25.91, with a volume of 50,449 shares traded.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a “buy” rating and set a $41.00 price target on shares of Movado Group in a report on Wednesday.

Movado Group Stock Up 3.6 %

The firm has a market cap of $610.73 million, a P/E ratio of 13.43 and a beta of 1.13. The business has a fifty day moving average of $27.88 and a 200 day moving average of $28.19.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date is Monday, April 8th. Movado Group’s payout ratio is currently 67.96%.

Hedge Funds Weigh In On Movado Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MOV. Quadrant Capital Group LLC boosted its holdings in shares of Movado Group by 112.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company’s stock worth $32,000 after acquiring an additional 561 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Movado Group by 89.5% during the first quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock worth $42,000 after acquiring an additional 511 shares during the period. State of Wyoming bought a new stake in shares of Movado Group during the fourth quarter worth approximately $59,000. Amundi boosted its holdings in shares of Movado Group by 108.7% during the fourth quarter. Amundi now owns 1,843 shares of the company’s stock worth $62,000 after acquiring an additional 960 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Movado Group by 2,022.8% during the first quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the company’s stock worth $69,000 after acquiring an additional 2,306 shares during the period. Institutional investors own 72.08% of the company’s stock.

About Movado Group

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It 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 Calvin Klein.