Cubist Systematic Strategies LLC Sells 95,451 Shares of Movado Group, Inc. (NYSE:MOV)

Cubist Systematic Strategies LLC reduced its stake in Movado Group, Inc. (NYSE:MOV - Free Report) by 79.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,872 shares of the company's stock after selling 95,451 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.11% of Movado Group worth $489,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in shares of Movado Group in the fourth quarter valued at approximately $804,000. Bank of New York Mellon Corp grew its position in shares of Movado Group by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company's stock valued at $4,320,000 after purchasing an additional 22,578 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Movado Group by 131.7% in the fourth quarter. Victory Capital Management Inc. now owns 37,835 shares of the company's stock valued at $745,000 after purchasing an additional 21,505 shares during the last quarter. Royce & Associates LP grew its position in Movado Group by 1.3% during the fourth quarter. Royce & Associates LP now owns 1,475,354 shares of the company's stock worth $29,035,000 after buying an additional 18,545 shares in the last quarter. Finally, Landscape Capital Management L.L.C. grew its position in Movado Group by 47.6% during the fourth quarter. Landscape Capital Management L.L.C. now owns 62,551 shares of the company's stock worth $1,231,000 after buying an additional 20,174 shares in the last quarter. Institutional investors own 72.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MOV shares. BWS Financial reissued a "buy" rating and set a $31.50 price target on shares of Movado Group in a research report on Monday, April 21st. Wall Street Zen downgraded Movado Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th.

Movado Group Trading Up 1.2%

Movado Group stock traded up $0.20 during midday trading on Thursday, reaching $17.00. The company's stock had a trading volume of 23,574 shares, compared to its average volume of 206,749. Movado Group, Inc. has a 52 week low of $12.85 and a 52 week high of $27.31. The business has a 50-day moving average price of $15.44 and a 200-day moving average price of $18.15. The stock has a market cap of $377.92 million, a PE ratio of 16.33 and a beta of 1.17.

Movado Group (NYSE:MOV - Get Free Report) last released its earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.12. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. The firm had revenue of $181.48 million for the quarter, compared to analysts' expectations of $180.62 million. As a group, research analysts predict that Movado Group, Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.24%. The ex-dividend date of this dividend was Tuesday, April 22nd. Movado Group's payout ratio is 160.92%.

Movado Group Profile

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.