Royce & Associates LP Buys 152,677 Shares of Movado Group Inc. (NYSE:MOV)

Royce & Associates LP increased its holdings in shares of Movado Group Inc. (NYSE:MOV - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,628,031 shares of the company's stock after acquiring an additional 152,677 shares during the quarter. Royce & Associates LP owned about 7.32% of Movado Group worth $27,221,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Y Intercept Hong Kong Ltd acquired a new position in shares of Movado Group during the 1st quarter worth approximately $392,000. Linden Thomas Advisory Services LLC increased its holdings in shares of Movado Group by 1.7% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 47,681 shares of the company's stock worth $797,000 after acquiring an additional 784 shares during the last quarter. VELA Investment Management LLC increased its holdings in shares of Movado Group by 26.3% during the 1st quarter. VELA Investment Management LLC now owns 143,397 shares of the company's stock worth $2,398,000 after acquiring an additional 29,823 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Movado Group by 15.4% during the 1st quarter. North Star Investment Management Corp. now owns 107,025 shares of the company's stock worth $1,789,000 after acquiring an additional 14,300 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Movado Group by 1,597.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company's stock worth $57,000 after acquiring an additional 3,211 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Movado Group Stock Up 0.6%

NYSE MOV traded up $0.11 on Monday, hitting $16.86. The company's stock had a trading volume of 77,337 shares, compared to its average volume of 191,529. Movado Group Inc. has a 1-year low of $12.85 and a 1-year high of $26.51. The company's 50-day moving average is $16.16 and its 200 day moving average is $16.87. The firm has a market cap of $374.88 million, a PE ratio of 21.07 and a beta of 1.19.

Movado Group (NYSE:MOV - Get Free Report) last announced 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 business had revenue of $131.77 million during the quarter, compared to analyst estimates of $142.11 million. On average, equities analysts expect that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a $0.35 dividend. The ex-dividend date was Thursday, June 12th. This represents a $1.40 annualized dividend and a dividend yield of 8.31%. Movado Group's payout ratio is 175.00%.

Movado Group Company Profile

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.