Annis Gardner Whiting Capital Advisors LLC Takes Position in Movado Group Inc. (NYSE:MOV)

Key Points

• Annis Gardner Whiting Capital Advisors LLC has invested approximately $343,000 in Movado Group Inc., acquiring 20,500 shares, now holding 0.09% of the company.
• Movado Group's financial performance showed a miss in earnings, reporting $0.08 per share versus an expected $0.39 and revenue of $131.77 million compared to $142.11 million.
• The company announced a quarterly dividend of $0.35 per share, with a dividend yield of 9.0%, although its payout ratio stands at a significant 175.00%.

Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Movado Group Inc. (NYSE:MOV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,500 shares of the company's stock, valued at approximately $343,000. Annis Gardner Whiting Capital Advisors LLC owned 0.09% of Movado Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. VELA Investment Management LLC lifted its holdings in shares of Movado Group by 26.3% during the 1st quarter. VELA Investment Management LLC now owns 143,397 shares of the company's stock valued at $2,398,000 after purchasing an additional 29,823 shares during the last quarter. Millennium Management LLC raised its stake in Movado Group by 10.2% in the fourth quarter. Millennium Management LLC now owns 443,179 shares of the company's stock valued at $8,722,000 after buying an additional 41,063 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Movado Group in the fourth quarter worth about $707,000. GSA Capital Partners LLP purchased a new stake in shares of Movado Group during the first quarter worth about $1,426,000. Finally, GAMMA Investing LLC increased its holdings in shares of Movado Group by 3,303.5% during the first quarter. GAMMA Investing LLC now owns 2,893 shares of the company's stock valued at $48,000 after acquiring an additional 2,808 shares in the last quarter. Institutional investors own 72.08% of the company's stock.

Analysts Set New Price Targets

MOV has been the topic of several research analyst reports. BWS Financial reissued a "buy" rating and set a $31.50 target price on shares of Movado Group in a research report on Monday, June 2nd. Wall Street Zen raised shares of Movado Group from a "sell" rating to a "hold" rating in a report on Friday, June 27th.

Movado Group Stock Down 0.0%

Shares of Movado Group stock traded down $0.01 on Wednesday, reaching $15.53. 124,158 shares of the stock were exchanged, compared to its average volume of 110,745. Movado Group Inc. has a twelve month low of $12.85 and a twelve month high of $24.98. The business has a 50 day moving average price of $15.97 and a two-hundred day moving average price of $16.72. The firm has a market capitalization of $345.28 million, a price-to-earnings ratio of 19.41 and a beta of 1.24.

Movado Group (NYSE:MOV - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.31). The business had revenue of $131.77 million for the quarter, compared to analyst estimates of $142.11 million. Movado Group had a net margin of 2.78% and a return on equity of 5.10%. Research analysts forecast that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend was Thursday, June 12th. Movado Group's payout ratio is 175.00%.

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.