Pacer Advisors Inc. Buys 40,128 Shares of Movado Group, Inc. (NYSE:MOV)

Pacer Advisors Inc. boosted its stake in Movado Group, Inc. (NYSE:MOVGet Rating) by 50.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,020 shares of the company’s stock after purchasing an additional 40,128 shares during the period. Pacer Advisors Inc. owned about 0.52% of Movado Group worth $4,648,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Panagora Asset Management Inc. lifted its stake in Movado Group by 38.3% in the 4th quarter. Panagora Asset Management Inc. now owns 44,136 shares of the company’s stock valued at $1,846,000 after purchasing an additional 12,229 shares during the last quarter. Cambria Investment Management L.P. acquired a new position in Movado Group in the 4th quarter valued at approximately $227,000. LSV Asset Management increased its position in Movado Group by 334.8% in the 4th quarter. LSV Asset Management now owns 28,261 shares of the company’s stock valued at $1,182,000 after acquiring an additional 21,761 shares during the period. One Wealth Advisors LLC acquired a new position in Movado Group in the 4th quarter valued at approximately $270,000. Finally, Invesco Ltd. increased its position in Movado Group by 72.3% in the 3rd quarter. Invesco Ltd. now owns 153,491 shares of the company’s stock valued at $4,833,000 after acquiring an additional 64,390 shares during the period. 65.26% of the stock is owned by institutional investors and hedge funds.

Separately, StockNews.com cut shares of Movado Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 30th.

In related news, Director Ann Kirschner sold 3,800 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $39.41, for a total transaction of $149,758.00. Following the transaction, the director now directly owns 13,897 shares of the company’s stock, valued at $547,680.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. Isserman sold 5,000 shares of the stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $37.86, for a total transaction of $189,300.00. Following the transaction, the director now directly owns 16,962 shares in the company, valued at $642,181.32. The disclosure for this sale can be found here. Corporate insiders own 27.76% of the company’s stock.

Shares of NYSE MOV opened at $32.16 on Thursday. Movado Group, Inc. has a 52-week low of $27.83 and a 52-week high of $48.66. The firm has a 50 day moving average price of $35.01 and a two-hundred day moving average price of $37.31. The stock has a market cap of $725.43 million, a P/E ratio of 7.53 and a beta of 1.16.

Movado Group (NYSE:MOVGet Rating) last posted its quarterly earnings data on Thursday, May 26th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.36. Movado Group had a net margin of 13.23% and a return on equity of 22.38%. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, analysts expect that Movado Group, Inc. will post 4.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Tuesday, June 7th. Movado Group’s dividend payout ratio (DPR) is presently 32.79%.

Movado Group Profile (Get Rating)

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari.

See Also

Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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