Denali Advisors LLC Sells 54,717 Shares of Movado Group Inc. (NYSE:MOV)

Denali Advisors LLC lessened its position in shares of Movado Group Inc. (NYSE:MOV - Free Report) by 23.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,191 shares of the company's stock after selling 54,717 shares during the period. Denali Advisors LLC owned about 0.82% of Movado Group worth $3,046,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MOV. Vanguard Group Inc. lifted its holdings in shares of Movado Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 959,424 shares of the company's stock worth $18,881,000 after purchasing an additional 9,999 shares during the last quarter. Ameriprise Financial Inc. increased its position in Movado Group by 19.3% in the 4th 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 period. Arrowstreet Capital Limited Partnership increased its position in Movado Group by 202.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock valued at $9,414,000 after acquiring an additional 320,103 shares during the period. Millennium Management LLC increased its position in Movado Group by 10.2% in the 4th quarter. Millennium Management LLC now owns 443,179 shares of the company's stock valued at $8,722,000 after acquiring an additional 41,063 shares during the period. Finally, American Century Companies Inc. increased its position in Movado Group by 2.5% in the 4th quarter. American Century Companies Inc. now owns 409,585 shares of the company's stock valued at $8,061,000 after acquiring an additional 9,851 shares during the period. Institutional investors own 72.08% of the company's stock.

Movado Group Trading Up 1.8%

MOV traded up $0.30 on Tuesday, hitting $16.53. 89,008 shares of the stock traded hands, compared to its average volume of 213,604. Movado Group Inc. has a 52 week low of $12.85 and a 52 week high of $26.51. The firm has a market capitalization of $367.47 million, a PE ratio of 20.66 and a beta of 1.19. The business has a fifty day moving average price of $16.21 and a two-hundred day moving average price of $16.97.

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 (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.31). Movado Group had a net margin of 2.78% and a return on equity of 5.10%. The firm had revenue of $131.77 million for the quarter, compared to the consensus estimate of $142.11 million. On average, equities research analysts forecast that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 8.47%. The ex-dividend date of this dividend was Thursday, June 12th. Movado Group's payout ratio is currently 175.00%.

Analysts Set New Price Targets

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