Cresset Asset Management LLC Buys 4,618 Shares of Movado Group, Inc. (NYSE:MOV)

Cresset Asset Management LLC increased its stake in Movado Group, Inc. (NYSE:MOV) by 13.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,433 shares of the company’s stock after purchasing an additional 4,618 shares during the period. Cresset Asset Management LLC owned 0.17% of Movado Group worth $756,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its holdings in Movado Group by 202.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company’s stock worth $9,414,000 after acquiring an additional 320,103 shares during the period. Ameriprise Financial Inc. grew its holdings in Movado Group by 19.3% during the 4th quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company’s stock worth $10,813,000 after acquiring an additional 88,778 shares during the period. Bridgeway Capital Management LLC grew its holdings in Movado Group by 43.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 218,433 shares of the company’s stock worth $4,299,000 after acquiring an additional 66,511 shares during the period. VELA Investment Management LLC grew its holdings in Movado Group by 121.1% during the 4th quarter. VELA Investment Management LLC now owns 113,574 shares of the company’s stock worth $2,235,000 after acquiring an additional 62,214 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Movado Group during the 4th quarter worth $804,000. Institutional investors own 72.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BWS Financial reaffirmed a “buy” rating and set a $31.50 target price on shares of Movado Group in a report on Monday, April 21st. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th.

Movado Group Stock Up 2.4%

Shares of MOV stock opened at $17.08 on Wednesday. Movado Group, Inc. has a 12-month low of $12.85 and a 12-month high of $27.80. The firm has a market capitalization of $379.81 million, a price-to-earnings ratio of 16.42 and a beta of 1.17. The firm has a fifty day moving average of $15.53 and a 200-day moving average of $18.21.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.12. The company had revenue of $181.48 million during the quarter, compared to analyst estimates of $180.62 million. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. Research analysts expect that Movado Group, Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Tuesday, April 22nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date of this dividend was Tuesday, April 22nd. Movado Group’s payout ratio is presently 160.92%.

Movado Group Company 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.