Movado Group (NYSE:MOV) Shares Gap Down to $33.49

Movado Group, Inc. (NYSE:MOVGet Rating) shares gapped down before the market opened on Tuesday . The stock had previously closed at $33.49, but opened at $30.44. Movado Group shares last traded at $29.57, with a volume of 1,764 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Movado Group in a report on Wednesday, October 12th. They set a “buy” rating on the stock.

Movado Group Stock Performance

The stock has a fifty day moving average price of $31.57 and a 200-day moving average price of $32.77. The firm has a market capitalization of $686.76 million, a PE ratio of 6.81 and a beta of 1.20.

Movado Group (NYSE:MOVGet Rating) last announced its quarterly earnings results on Thursday, August 25th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.36. Movado Group had a return on equity of 22.90% and a net margin of 13.68%. The business had revenue of $182.80 million for the quarter. Research analysts expect that Movado Group, Inc. will post 4.23 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.57%. Movado Group’s dividend payout ratio is presently 31.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MOV. New York State Teachers Retirement System lifted its position in Movado Group by 1.5% during the 2nd quarter. New York State Teachers Retirement System now owns 40,647 shares of the company’s stock worth $1,257,000 after acquiring an additional 590 shares during the period. Royce & Associates LP lifted its position in Movado Group by 7.9% during the 2nd quarter. Royce & Associates LP now owns 1,132,622 shares of the company’s stock worth $35,032,000 after acquiring an additional 82,994 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Movado Group during the 1st quarter worth about $1,015,000. Acadian Asset Management LLC lifted its position in Movado Group by 25.3% during the 1st quarter. Acadian Asset Management LLC now owns 380,319 shares of the company’s stock worth $14,847,000 after acquiring an additional 76,793 shares during the period. Finally, Euclidean Technologies Management LLC lifted its position in Movado Group by 124.4% during the 2nd quarter. Euclidean Technologies Management LLC now owns 52,747 shares of the company’s stock worth $1,631,000 after acquiring an additional 29,242 shares during the period. 67.26% of the stock is currently owned by hedge funds and other institutional investors.

About Movado Group

(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.

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