Denali Advisors LLC Lowers Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Denali Advisors LLC lessened its holdings in Movado Group, Inc. (NYSE:MOV) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 236,908 shares of the company’s stock after selling 4,084 shares during the period. Denali Advisors LLC owned 1.07% of Movado Group worth $4,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MOV. Royce & Associates LP raised its position in shares of Movado Group by 1.6% during the third quarter. Royce & Associates LP now owns 1,456,809 shares of the company’s stock valued at $27,097,000 after buying an additional 22,414 shares during the last quarter. Geode Capital Management LLC increased its holdings in Movado Group by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock valued at $6,607,000 after acquiring an additional 5,990 shares during the last quarter. Jane Street Group LLC increased its holdings in Movado Group by 347.0% in the 3rd quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock valued at $5,675,000 after acquiring an additional 236,847 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Movado Group by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company’s stock worth $4,320,000 after purchasing an additional 22,578 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in shares of Movado Group by 60.6% during the 4th quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock valued at $3,465,000 after purchasing an additional 66,422 shares during the last quarter. 72.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

MOV has been the topic of several research reports. BWS Financial began coverage on Movado Group in a report on Thursday, January 2nd. They issued a “buy” rating and a $31.50 target price on the stock. StockNews.com raised Movado Group from a “hold” rating to a “buy” rating in a research note on Monday.

Movado Group Stock Up 2.4 %

Shares of NYSE:MOV opened at $20.13 on Wednesday. The firm has a fifty day simple moving average of $19.56 and a two-hundred day simple moving average of $20.06. Movado Group, Inc. has a 52 week low of $17.86 and a 52 week high of $29.14. The stock has a market capitalization of $445.69 million, a P/E ratio of 19.35 and a beta of 1.00.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 6.96%. Movado Group’s dividend payout ratio is currently 134.62%.

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.