35,925 Shares in Movado Group, Inc. (NYSE:MOV) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new stake in shares of Movado Group, Inc. (NYSE:MOV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 35,925 shares of the company's stock, valued at approximately $707,000. Balyasny Asset Management L.P. owned about 0.16% of Movado Group as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in Movado Group in the fourth quarter worth $47,000. Aigen Investment Management LP purchased a new stake in Movado Group in the fourth quarter worth $201,000. Wells Fargo & Company MN increased its position in Movado Group by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 14,372 shares of the company's stock worth $283,000 after buying an additional 2,234 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Movado Group in the fourth quarter worth $284,000. Finally, Inceptionr LLC purchased a new position in shares of Movado Group in the fourth quarter valued at $460,000. Hedge funds and other institutional investors own 72.08% of the company's stock.

Movado Group Trading Up 1.6%

Shares of NYSE MOV traded up $0.27 during mid-day trading on Tuesday, hitting $17.32. The company had a trading volume of 11,108 shares, compared to its average volume of 205,853. Movado Group, Inc. has a 1 year low of $12.85 and a 1 year high of $27.75. The stock's 50-day moving average price is $15.46 and its 200-day moving average price is $18.16. The company has a market capitalization of $385.03 million, a price-to-earnings ratio of 16.65 and a beta of 1.17.

Movado Group (NYSE:MOV - Get Free Report) last posted its earnings results on Wednesday, April 16th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.39 by $0.12. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. The business had revenue of $181.48 million during the quarter, compared to analysts' expectations of $180.62 million. As a group, equities research analysts forecast 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 was paid on Tuesday, May 6th. Investors of record on Tuesday, April 22nd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 8.09%. The ex-dividend date was Tuesday, April 22nd. Movado Group's payout ratio is 160.92%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com cut Movado Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. BWS Financial reiterated a "buy" rating and issued a $31.50 price target on shares of Movado Group in a research report on Monday, April 21st.

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.