Royce & Associates LP Grows Stock Position in Movado Group, Inc. (NYSE:MOV)

Royce & Associates LP boosted its stake in Movado Group, Inc. (NYSE:MOV) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,456,809 shares of the company’s stock after acquiring an additional 22,414 shares during the quarter. Royce & Associates LP owned about 6.56% of Movado Group worth $27,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MOV. Denali Advisors LLC raised its position in shares of Movado Group by 101.0% during the 2nd quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock valued at $4,818,000 after acquiring an additional 97,400 shares in the last quarter. Squarepoint Ops LLC increased its position in Movado Group by 467.9% in the second quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock worth $2,463,000 after buying an additional 81,637 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Movado Group in the third quarter worth $1,343,000. Sanctuary Advisors LLC bought a new position in shares of Movado Group in the second quarter worth $1,497,000. Finally, VELA Investment Management LLC bought a new position in shares of Movado Group in the third quarter worth $955,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Stock Up 1.1 %

NYSE:MOV opened at $19.64 on Friday. The stock has a fifty day simple moving average of $19.09 and a 200 day simple moving average of $23.04. The firm has a market capitalization of $436.40 million, a price-to-earnings ratio of 12.35 and a beta of 0.99. Movado Group, Inc. has a 1-year low of $17.86 and a 1-year high of $31.44.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Movado Group had a return on equity of 7.23% and a net margin of 5.45%. The firm had revenue of $159.31 million for the quarter. During the same period in the previous year, the business earned $0.38 earnings per share. Equities analysts predict that Movado Group, Inc. will post 0.95 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend was Monday, September 16th. Movado Group’s payout ratio is 88.05%.

Analyst Ratings Changes

Separately, StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Movado Group Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.