Bridgeway Capital Management LLC Has $4.22 Million Holdings in Movado Group Inc. $MOV

Key Points

• Bridgeway Capital Management LLC increased its holdings in Movado Group Inc. by 15.6%, owning approximately 1.14% of the company valued at $4.22 million after acquiring additional shares in the first quarter.
• Movado Group's quarterly earnings missed expectations, reporting $0.23 earnings per share against an expected $0.31, despite revenue surpassing analyst expectations at $161.83 million.
• The company announced a quarterly dividend of $0.35 per share with a yield of 7.2%, although its dividend payout ratio stands at 181.82%.

Bridgeway Capital Management LLC raised its holdings in Movado Group Inc. (NYSE:MOV - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 252,430 shares of the company's stock after purchasing an additional 33,997 shares during the quarter. Bridgeway Capital Management LLC owned approximately 1.14% of Movado Group worth $4,221,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. VELA Investment Management LLC raised its holdings in shares of Movado Group by 26.3% in the first quarter. VELA Investment Management LLC now owns 143,397 shares of the company's stock valued at $2,398,000 after buying an additional 29,823 shares during the last quarter. Millennium Management LLC increased its position in Movado Group by 10.2% in the 4th quarter. Millennium Management LLC now owns 443,179 shares of the company's stock valued at $8,722,000 after acquiring an additional 41,063 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Movado Group in the fourth quarter worth about $707,000. GSA Capital Partners LLP bought a new position in shares of Movado Group in the first quarter worth about $1,426,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Movado Group by 14.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 186,468 shares of the company's stock worth $3,118,000 after purchasing an additional 23,095 shares in the last quarter. Institutional investors own 72.08% of the company's stock.

Movado Group Price Performance

Shares of MOV stock traded up $0.65 during trading hours on Thursday, reaching $19.89. The company had a trading volume of 178,204 shares, compared to its average volume of 170,987. Movado Group Inc. has a 1-year low of $12.85 and a 1-year high of $22.20. The firm has a market cap of $440.25 million, a price-to-earnings ratio of 25.83 and a beta of 1.24. The company has a 50 day moving average of $16.88 and a 200 day moving average of $16.34.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.08). Movado Group had a net margin of 2.66% and a return on equity of 5.45%. The company had revenue of $161.83 million during the quarter, compared to the consensus estimate of $156.84 million. As a group, sell-side analysts forecast that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Monday, September 8th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.40 annualized dividend and a yield of 7.0%. Movado Group's dividend payout ratio (DPR) is presently 181.82%.

Wall Street Analysts Forecast Growth

MOV has been the subject of a number of research reports. BWS Financial reissued a "buy" rating and issued a $31.50 price target on shares of Movado Group in a report on Friday, August 29th. Wall Street Zen upgraded Movado Group from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Zacks Research cut Movado Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $31.50.

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.