Movado Group, Inc. (NYSE:MOV) Shares Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. raised its position in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 56.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 257,578 shares of the company's stock after buying an additional 93,388 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.16% of Movado Group worth $5,069,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MOV. KLP Kapitalforvaltning AS purchased a new stake in shares of Movado Group during the 4th quarter valued at $47,000. Aigen Investment Management LP purchased a new stake in Movado Group in the fourth quarter valued at about $201,000. Wells Fargo & Company MN boosted its holdings 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 acquiring an additional 2,234 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Movado Group during the fourth quarter worth about $284,000. Finally, Inceptionr LLC purchased a new stake in shares of Movado Group during the fourth quarter worth about $460,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MOV. BWS Financial reiterated a "buy" rating and issued a $31.50 target price on shares of Movado Group in a research note on Monday, April 21st. Wall Street Zen downgraded shares of Movado Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th.

Movado Group Trading Up 1.2%

Shares of MOV stock traded up $0.20 during mid-day trading on Thursday, reaching $17.00. The stock had a trading volume of 23,574 shares, compared to its average volume of 206,749. Movado Group, Inc. has a 1-year low of $12.85 and a 1-year high of $27.31. The firm has a market cap of $377.92 million, a price-to-earnings ratio of 16.33 and a beta of 1.17. The business's fifty day moving average is $15.44 and its 200-day moving average is $18.15.

Movado Group (NYSE:MOV - Get Free Report) last issued its earnings results on Wednesday, April 16th. The company reported $0.51 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 analyst estimates of $180.62 million. On average, analysts forecast that Movado Group, Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

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

Movado Group Company 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.