GSA Capital Partners LLP Buys Shares of 85,311 Movado Group Inc. (NYSE:MOV)

Key Points

• GSA Capital Partners LLP has acquired 85,311 shares of Movado Group Inc., valued at approximately $1.426 million, representing about 0.38% ownership of the company.
• Movado Group recently declared a $0.35 quarterly dividend, resulting in an annualized dividend yield of 8.53%, although its dividend payout ratio stands at 175.00%.
• Movado Group reported a net loss of $0.08 earnings per share for the last quarter, missing analysts' estimates by $0.31, with a revenue of $131.77 million, below the expected $142.11 million.

GSA Capital Partners LLP acquired a new stake in shares of Movado Group Inc. (NYSE:MOV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 85,311 shares of the company's stock, valued at approximately $1,426,000. GSA Capital Partners LLP owned about 0.38% of Movado Group as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MOV. Royce & Associates LP boosted its stake in shares of Movado Group by 10.3% during the first quarter. Royce & Associates LP now owns 1,628,031 shares of the company's stock valued at $27,221,000 after purchasing an additional 152,677 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Movado Group during the first quarter valued at $392,000. Linden Thomas Advisory Services LLC boosted its stake in shares of Movado Group by 1.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 47,681 shares of the company's stock valued at $797,000 after purchasing an additional 784 shares during the period. VELA Investment Management LLC boosted its stake in shares of Movado Group by 26.3% during the first 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 period. Finally, North Star Investment Management Corp. boosted its stake in shares of Movado Group by 15.4% during the first quarter. North Star Investment Management Corp. now owns 107,025 shares of the company's stock valued at $1,789,000 after purchasing an additional 14,300 shares during the period. Institutional investors own 72.08% of the company's stock.

Movado Group Stock Down 2.6%

Shares of MOV stock traded down $0.40 on Friday, hitting $15.11. The stock had a trading volume of 97,970 shares, compared to its average volume of 109,430. The business has a 50 day moving average price of $16.07 and a 200 day moving average price of $16.79. The company has a market cap of $336.05 million, a PE ratio of 18.89 and a beta of 1.25. Movado Group Inc. has a one year low of $12.85 and a one year high of $24.98.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $142.11 million. Movado Group had a net margin of 2.78% and a return on equity of 5.10%. Equities research analysts expect that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 9.3%. The ex-dividend date was Thursday, June 12th. Movado Group's payout ratio is 175.00%.

Analyst Ratings Changes

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

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.