North Star Investment Management Corp. Has $2.04 Million Holdings in Movado Group Inc. $MOV

Key Points

• North Star Investment Management Corp. increased its holdings in Movado Group by 25.2% during Q2, owning approximately $2.04 million worth of shares at the end of the quarter.
• Movado Group recently declared a quarterly dividend of $0.35, resulting in an annualized dividend yield of 7.3% and a payout ratio of 181.82%.
• Despite a miss on earnings per share, Movado Group's revenue surpassed estimates in its latest quarterly report, with a reported $161.83 million compared to expected $156.84 million.

North Star Investment Management Corp. increased its holdings in shares of Movado Group Inc. (NYSE:MOV - Free Report) by 25.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,025 shares of the company's stock after purchasing an additional 27,000 shares during the period. North Star Investment Management Corp. owned approximately 0.60% of Movado Group worth $2,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MOV. Coppell Advisory Solutions LLC increased its stake in Movado Group by 14,191.7% during the 1st quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company's stock worth $29,000 after purchasing an additional 1,703 shares in the last quarter. GAMMA Investing LLC increased 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 worth $48,000 after acquiring an additional 2,808 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings 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 worth $57,000 after acquiring an additional 3,211 shares during the period. Aigen Investment Management LP raised its holdings 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 worth $227,000 after acquiring an additional 3,371 shares during the period. Finally, Two Sigma Advisers LP raised its holdings 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 worth $244,000 after acquiring an additional 2,400 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Movado Group Trading Up 0.6%

Shares of MOV opened at $19.25 on Thursday. The stock has a market capitalization of $426.20 million, a price-to-earnings ratio of 25.00 and a beta of 1.24. The firm has a fifty day simple moving average of $17.44 and a 200 day simple moving average of $16.37. Movado Group Inc. has a 12 month low of $12.85 and a 12 month high of $22.20.

Movado Group (NYSE:MOV - Get Free Report) last announced 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). The firm had revenue of $161.83 million during the quarter, compared to analyst estimates of $156.84 million. Movado Group had a net margin of 2.66% and a return on equity of 5.45%. As a group, research analysts predict that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Monday, September 8th were paid a $0.35 dividend. The ex-dividend date was Monday, September 8th. This represents a $1.40 dividend on an annualized basis and a yield of 7.3%. Movado Group's dividend payout ratio (DPR) is currently 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.

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