Movado Group Inc. $MOV Shares Sold by North Star Investment Management Corp.

North Star Investment Management Corp. lessened its holdings in Movado Group Inc. (NYSE:MOV) by 29.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,025 shares of the company’s stock after selling 40,000 shares during the period. North Star Investment Management Corp. owned 0.42% of Movado Group worth $1,784,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MOV. Deprince Race & Zollo Inc. raised its position in shares of Movado Group by 12.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 202,511 shares of the company’s stock worth $3,842,000 after purchasing an additional 22,552 shares during the last quarter. CWM LLC raised its holdings in shares of Movado Group by 28.2% in the third quarter. CWM LLC now owns 3,318 shares of the company’s stock worth $63,000 after acquiring an additional 730 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Movado Group in the third quarter valued at $458,000. Harbor Capital Advisors Inc. lifted its position in shares of Movado Group by 20.4% in the third quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock valued at $88,000 after acquiring an additional 790 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Movado Group during the third quarter valued at $315,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MOV shares. Wall Street Zen raised shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. BWS Financial reissued a “buy” rating and issued a $31.50 price objective on shares of Movado Group in a research report on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Movado Group from a “hold” rating to a “strong sell” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Movado Group Stock Performance

MOV opened at $20.87 on Tuesday. Movado Group Inc. has a 1 year low of $12.85 and a 1 year high of $22.25. The firm has a 50 day moving average price of $19.99 and a 200 day moving average price of $18.34. The company has a market cap of $461.93 million, a PE ratio of 21.51 and a beta of 0.90.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). The business had revenue of $186.13 million for the quarter, compared to analyst estimates of $185.89 million. Movado Group had a net margin of 3.33% and a return on equity of 5.86%. During the same period last year, the firm earned $0.22 earnings per share. On average, sell-side analysts predict 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 Monday, December 22nd. Investors of record on Monday, December 8th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Monday, December 8th. Movado Group’s dividend payout ratio (DPR) is presently 144.33%.

Movado Group Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.