Cubist Systematic Strategies LLC Increases Position in Movado Group Inc. $MOV

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Movado Group Inc. by 293.4% during the 1st quarter, owning approximately 0.44% of the company's stock valued at $1.636 million.
• Movado Group recently declared a quarterly dividend of $0.35 per share, with a dividend yield of 7.2%, while its dividend payout ratio stands at 181.82%.
• Movado Group’s earnings fell short of analysts' expectations, reporting $0.23 earnings per share against an estimated $0.31, despite a revenue of $161.83 million surpassing estimates.

Cubist Systematic Strategies LLC grew its position in shares of Movado Group Inc. (NYSE:MOV - Free Report) by 293.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,842 shares of the company's stock after purchasing an additional 72,970 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.44% of Movado Group worth $1,636,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MOV. GAMMA Investing LLC grew its position 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 purchasing an additional 2,808 shares in the last quarter. Harbor Capital Advisors Inc. grew its position 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 purchasing an additional 3,211 shares in the last quarter. Aigen Investment Management LP grew its position in shares of Movado Group by 33.0% during the first quarter. Aigen Investment Management LP now owns 13,591 shares of the company's stock valued at $227,000 after purchasing an additional 3,371 shares in the last quarter. Two Sigma Advisers LP grew its position 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 purchasing an additional 2,400 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of Movado Group during the first quarter valued at about $287,000. Hedge funds and other institutional investors own 72.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MOV shares. Wall Street Zen upgraded Movado Group from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. BWS Financial restated a "buy" rating and set a $31.50 price objective on shares of Movado Group in a research report on Friday, August 29th. Finally, Zacks Research lowered Movado Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $31.50.

Movado Group Stock Down 0.7%

MOV traded down $0.13 on Friday, hitting $19.78. The company had a trading volume of 154,459 shares, compared to its average volume of 174,090. The company has a market cap of $437.93 million, a PE ratio of 25.69 and a beta of 1.24. Movado Group Inc. has a 12-month low of $12.85 and a 12-month high of $22.20. The business's fifty day simple moving average is $16.95 and its 200 day simple moving average is $16.34.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings results 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 return on equity of 5.45% and a net margin of 2.66%.The firm had revenue of $161.83 million for the quarter, compared to analysts' expectations of $156.84 million. On average, analysts anticipate that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Monday, September 8th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Monday, September 8th. Movado Group's payout ratio is 181.82%.

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.