Squarepoint Ops LLC Decreases Position in Movado Group, Inc. (NYSE:MOV)

Squarepoint Ops LLC cut its position in Movado Group, Inc. (NYSE:MOV - Free Report) by 49.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,755 shares of the company's stock after selling 73,141 shares during the quarter. Squarepoint Ops LLC owned 0.33% of Movado Group worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its holdings in Movado Group by 202.3% during 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. Jacobs Levy Equity Management Inc. lifted its position in shares of Movado Group by 174.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 307,790 shares of the company's stock worth $6,057,000 after purchasing an additional 195,465 shares in the last quarter. Numerai GP LLC purchased a new position in shares of Movado Group in the fourth quarter valued at approximately $3,186,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Movado Group by 56.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 257,578 shares of the company's stock valued at $5,069,000 after purchasing an additional 93,388 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Movado Group by 19.3% during the 4th quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company's stock worth $10,813,000 after buying an additional 88,778 shares during the period. 72.08% of the stock is owned by institutional investors and hedge funds.

Movado Group Stock Performance

MOV stock traded down $0.21 during mid-day trading on Wednesday, reaching $16.02. The company had a trading volume of 173,999 shares, compared to its average volume of 210,582. The firm has a fifty day simple moving average of $15.19 and a 200 day simple moving average of $17.95. The company has a market capitalization of $356.24 million, a price-to-earnings ratio of 15.40 and a beta of 1.21. Movado Group, Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $26.59.

Movado Group (NYSE:MOV - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.31). Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The firm had revenue of $131.77 million during the quarter, compared to analyst estimates of $142.11 million. As a group, analysts predict that Movado Group, Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.74%. Movado Group's payout ratio is currently 175.00%.

Analyst Ratings Changes

Several brokerages have commented on MOV. Wall Street Zen cut shares of Movado Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. BWS Financial reiterated a "buy" rating and issued a $31.50 price objective on shares of Movado Group in a research note on Monday.

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.