Renaissance Technologies LLC Sells 43,300 Shares of Movado Group, Inc. (NYSE:MOV)

Renaissance Technologies LLC cut its position in Movado Group, Inc. (NYSE:MOV) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,098 shares of the company’s stock after selling 43,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Movado Group were worth $3,505,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in Movado Group in the fourth quarter valued at $47,000. Aigen Investment Management LP bought a new stake in shares of Movado Group in the 4th quarter valued at about $201,000. Wells Fargo & Company MN lifted its stake in Movado Group by 18.4% in the 4th quarter. Wells Fargo & Company MN now owns 14,372 shares of the company’s stock valued at $283,000 after purchasing an additional 2,234 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Movado Group during the fourth quarter worth about $284,000. Finally, Virtu Financial LLC acquired a new position in shares of Movado Group during the 3rd quarter worth approximately $364,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on MOV. StockNews.com raised shares of Movado Group from a “hold” rating to a “buy” rating in a research report on Tuesday. BWS Financial reaffirmed a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research report on Monday.

Movado Group Stock Performance

MOV stock opened at $13.90 on Wednesday. Movado Group, Inc. has a 52 week low of $12.85 and a 52 week high of $27.80. The company has a market capitalization of $307.79 million, a PE ratio of 13.37 and a beta of 0.92. The company’s 50-day simple moving average is $16.97 and its 200 day simple moving average is $18.66.

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

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Tuesday, April 22nd will be issued a $0.35 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.40 annualized dividend and a yield of 10.07%. Movado Group’s dividend 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.