Movado Group Inc. $MOV Holdings Raised by Trexquant Investment LP

Trexquant Investment LP boosted its holdings in Movado Group Inc. (NYSE:MOV) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,520 shares of the company’s stock after acquiring an additional 6,365 shares during the quarter. Trexquant Investment LP owned about 0.41% of Movado Group worth $1,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MOV. Barclays PLC raised its position in Movado Group by 5.3% in the fourth quarter. Barclays PLC now owns 28,080 shares of the company’s stock worth $552,000 after acquiring an additional 1,416 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Movado Group by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,395 shares of the company’s stock worth $500,000 after acquiring an additional 848 shares in the last quarter. Ameriprise Financial Inc. raised its position in Movado Group by 19.3% in the fourth 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 in the last quarter. Bank of America Corp DE raised its position in Movado Group by 40.9% in the fourth quarter. Bank of America Corp DE now owns 36,545 shares of the company’s stock worth $719,000 after acquiring an additional 10,609 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Movado Group in the fourth quarter worth about $707,000. 72.08% of the stock is currently owned by institutional investors.

Movado Group Trading Up 0.8%

Shares of MOV opened at $19.45 on Friday. The business’s 50-day moving average price is $16.61 and its 200 day moving average price is $16.35. The stock has a market capitalization of $432.61 million, a P/E ratio of 25.26 and a beta of 1.24. Movado Group Inc. has a 1-year low of $12.85 and a 1-year high of $22.20.

Movado Group (NYSE:MOV) last released its earnings results on Thursday, August 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.08). Movado Group had a net margin of 2.66% and a return on equity of 5.45%. The business had revenue of $161.83 million for the quarter, compared to analysts’ expectations of $156.84 million. On average, research analysts predict that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Monday, September 8th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Monday, September 8th. Movado Group’s payout ratio is 181.82%.

Analysts Set New Price Targets

Several brokerages have commented on MOV. Wall Street Zen upgraded shares of Movado Group from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Zacks Research cut Movado Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, BWS Financial reissued a “buy” rating and issued a $31.50 price target on shares of Movado Group in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Movado Group has a consensus rating of “Hold” and an average target price of $31.50.

About Movado Group

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.