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

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in Movado Group by 131.7% during the 4th quarter. Victory Capital Management Inc. now owns 37,835 shares of the company's stock worth $745,000 after acquiring an additional 21,505 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Movado Group during the 4th quarter worth approximately $804,000. Teacher Retirement System of Texas raised its stake in Movado Group by 43.6% in the 4th quarter. Teacher Retirement System of Texas now owns 112,169 shares of the company's stock valued at $2,207,000 after purchasing an additional 34,070 shares during the last quarter. American Century Companies Inc. boosted its holdings in Movado Group by 2.5% during 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. Finally, KLP Kapitalforvaltning AS acquired a new position in Movado Group during the fourth quarter worth approximately $47,000. 72.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on MOV shares. BWS Financial reiterated a "buy" rating and issued a $31.50 price objective on shares of Movado Group in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of Movado Group from a "sell" rating to a "hold" rating in a report on Friday, June 27th.

Movado Group Stock Performance

Shares of NYSE:MOV traded up $0.13 during midday trading on Monday, reaching $16.32. 45,632 shares of the company's stock traded hands, compared to its average volume of 194,852. Movado Group Inc. has a 1 year low of $12.85 and a 1 year high of $26.51. The company has a market cap of $362.96 million, a P/E ratio of 20.39 and a beta of 1.19. The company has a fifty day simple moving average of $16.21 and a two-hundred day simple moving average of $16.97.

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

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.58%. The ex-dividend date of this dividend was Thursday, June 12th. Movado Group's dividend payout ratio (DPR) is presently 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.