Exchange Traded Concepts LLC Sells 53,859 Shares of Movado Group Inc. (NYSE:MOV)

Exchange Traded Concepts LLC lessened its holdings in shares of Movado Group Inc. (NYSE:MOV - Free Report) by 79.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new position in shares of Movado Group during the fourth quarter valued at approximately $47,000. GAMMA Investing LLC raised 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. Harbor Capital Advisors Inc. raised its holdings in shares of Movado Group by 1,597.5% during the first quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company's stock valued at $57,000 after acquiring an additional 3,211 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Movado Group during the fourth quarter valued at approximately $201,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Movado Group by 24.0% during the fourth quarter. Two Sigma Advisers LP now owns 12,400 shares of the company's stock valued at $244,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors own 72.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BWS Financial reaffirmed a "buy" rating and issued a $31.50 price target on shares of Movado Group in a research note on Monday, June 2nd. Wall Street Zen cut Movado Group from a "hold" rating to a "sell" rating in a research note on Friday, June 6th.

Movado Group Stock Down 1.4%

Shares of MOV stock opened at $15.16 on Monday. The stock has a market cap of $337.18 million, a price-to-earnings ratio of 18.95 and a beta of 1.21. The business's fifty day moving average is $15.37 and its 200 day moving average is $17.54. Movado Group Inc. has a twelve month low of $12.85 and a twelve month high of $26.59.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.31). The firm had revenue of $131.77 million during the quarter, compared to analysts' expectations of $142.11 million. Movado Group had a return on equity of 5.10% and a net margin of 2.78%. Equities research analysts expect that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.35 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.23%. Movado Group's dividend payout ratio is currently 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.

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