Exchange Traded Concepts LLC Trims Holdings in Movado Group Inc. (NYSE:MOV)

Exchange Traded Concepts LLC decreased its position in Movado Group Inc. (NYSE:MOV - Free Report) by 79.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,232 shares of the company's stock after selling 53,859 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.06% of Movado Group worth $238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Movado Group by 202.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock worth $9,414,000 after acquiring an additional 320,103 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Movado Group by 174.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 307,790 shares of the company's stock worth $6,057,000 after buying an additional 195,465 shares during the last quarter. Numerai GP LLC bought a new stake in Movado Group in the fourth quarter worth about $3,186,000. D. E. Shaw & Co. Inc. boosted its stake in Movado Group by 56.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 257,578 shares of the company's stock valued at $5,069,000 after acquiring an additional 93,388 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Movado Group by 19.3% in the fourth quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company's stock valued at $10,813,000 after acquiring an additional 88,778 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MOV shares. BWS Financial restated a "buy" rating and set a $31.50 price target on shares of Movado Group in a research note on Monday, June 2nd. Wall Street Zen lowered Movado Group from a "hold" rating to a "sell" rating in a report on Friday, June 6th.

Movado Group Trading Up 1.7%

Shares of MOV stock traded up $0.26 on Thursday, hitting $15.46. 183,319 shares of the stock were exchanged, compared to its average volume of 212,311. The firm's 50 day moving average is $15.52 and its two-hundred day moving average is $17.44. Movado Group Inc. has a one year low of $12.85 and a one year high of $26.59. The firm has a market capitalization of $343.87 million, a PE ratio of 19.33 and a beta of 1.21.

Movado Group (NYSE:MOV - Get Free Report) last released 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 analysts' expectations of $142.11 million. Movado Group had a net margin of 2.78% and a return on equity of 5.10%. On average, sell-side analysts expect that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 9.05%. The ex-dividend date is Thursday, June 12th. Movado Group's dividend payout ratio (DPR) is presently 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.