85,311 Shares in Movado Group Inc. (NYSE:MOV) Purchased by GSA Capital Partners LLP

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 bought 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 Form 13F filing with the Securities and Exchange Commission. The fund bought 85,311 shares of the company's stock, valued at approximately $1,426,000. GSA Capital Partners LLP owned 0.38% of Movado Group at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Movado Group by 2.5% in the 4th quarter. American Century Companies Inc. now owns 409,585 shares of the company's stock worth $8,061,000 after purchasing an additional 9,851 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Movado Group in the fourth quarter worth about $47,000. Vanguard Group Inc. grew its position in Movado Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 959,424 shares of the company's stock valued at $18,881,000 after buying an additional 9,999 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Movado Group by 36.6% in the 4th quarter. JPMorgan Chase & Co. now owns 103,413 shares of the company's stock worth $2,035,000 after purchasing an additional 27,719 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Movado Group by 202.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock valued at $9,414,000 after buying an additional 320,103 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors.

Movado Group Stock Down 2.6%

MOV stock traded down $0.40 during trading on Friday, hitting $15.11. 97,970 shares of the company's stock traded hands, compared to its average volume of 189,444. Movado Group Inc. has a 1 year low of $12.85 and a 1 year high of $24.98. The business has a fifty day simple moving average of $16.10 and a two-hundred day simple moving average of $16.82. The firm has a market capitalization of $336.00 million, a P/E ratio of 18.89 and a beta of 1.19.

Movado Group (NYSE:MOV - Get Free Report) last announced its 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 business had revenue of $131.77 million for 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%. On average, equities research analysts predict that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.40 dividend on an annualized basis and a yield of 9.3%. Movado Group's dividend payout ratio (DPR) is currently 175.00%.

Analyst Ratings Changes

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

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.