Movado Group, Inc. (NYSE:MOV) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its stake in shares of Movado Group, Inc. (NYSE:MOVFree Report) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,826 shares of the company’s stock after selling 2,022 shares during the period. New York Life Investment Management LLC’s holdings in Movado Group were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Captrust Financial Advisors raised its holdings in Movado Group by 89.5% in the 1st quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock valued at $42,000 after acquiring an additional 511 shares during the last quarter. State of Wyoming acquired a new stake in shares of Movado Group during the 4th quarter worth approximately $59,000. Amundi increased its holdings in shares of Movado Group by 108.7% during the 4th quarter. Amundi now owns 1,843 shares of the company’s stock worth $62,000 after buying an additional 960 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Movado Group by 2,022.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the company’s stock worth $69,000 after purchasing an additional 2,306 shares during the period. Finally, Denali Advisors LLC purchased a new position in shares of Movado Group during the 3rd quarter worth approximately $109,000. Institutional investors and hedge funds own 63.63% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a “buy” rating and set a $41.00 price objective on shares of Movado Group in a research report on Friday, December 1st.

Check Out Our Latest Research Report on Movado Group

Movado Group Stock Up 3.7 %

Shares of MOV stock opened at $29.36 on Tuesday. Movado Group, Inc. has a 52 week low of $23.94 and a 52 week high of $35.60. The stock has a market capitalization of $648.27 million, a PE ratio of 11.60 and a beta of 1.15. The firm has a 50 day moving average of $28.85 and a two-hundred day moving average of $28.14.

Movado Group (NYSE:MOVGet Free Report) last released its quarterly earnings data on Thursday, November 30th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.02). The firm had revenue of $187.69 million for the quarter. Movado Group had a return on equity of 11.76% and a net margin of 8.34%. During the same period in the prior year, the business posted $1.31 earnings per share. Analysts expect that Movado Group, Inc. will post 1.93 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 12th were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 11th. This represents a $1.40 annualized dividend and a dividend yield of 4.77%. Movado Group’s dividend payout ratio (DPR) is currently 55.34%.

Insider Transactions at Movado Group

In other news, CFO Sallie A. Demarsilis sold 31,630 shares of Movado Group stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $30.62, for a total transaction of $968,510.60. Following the completion of the sale, the chief financial officer now directly owns 66,600 shares of the company’s stock, valued at approximately $2,039,292. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 28.89% of the company’s stock.

Movado Group Profile

(Free Report)

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, and Calvin Klein.

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

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