Two Sigma Investments LP Reduces Stake in Movado Group, Inc. (NYSE:MOV)

Two Sigma Investments LP reduced its position in Movado Group, Inc. (NYSE:MOV - Free Report) by 72.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,939 shares of the company's stock after selling 28,188 shares during the quarter. Two Sigma Investments LP's holdings in Movado Group were worth $215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MOV. KLP Kapitalforvaltning AS bought a new stake in shares of Movado Group in the fourth quarter valued at about $47,000. Aigen Investment Management LP bought a new stake in shares of Movado Group in the fourth quarter valued at about $201,000. Two Sigma Advisers LP raised its holdings in Movado Group by 24.0% in the fourth quarter. Two Sigma Advisers LP now owns 12,400 shares of the company's stock worth $244,000 after purchasing an additional 2,400 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Movado Group by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 14,372 shares of the company's stock worth $283,000 after purchasing an additional 2,234 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Movado Group in the fourth quarter worth about $284,000. 72.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MOV shares. BWS Financial reiterated a "buy" rating and issued a $31.50 target price on shares of Movado Group in a report on Monday, June 2nd. Wall Street Zen downgraded shares of Movado Group from a "hold" rating to a "sell" rating in a report on Friday, June 6th.

Movado Group Price Performance

Movado Group stock traded down $0.55 during trading hours on Friday, reaching $14.85. The stock had a trading volume of 165,113 shares, compared to its average volume of 211,422. The company has a market cap of $330.22 million, a price-to-earnings ratio of 14.28 and a beta of 1.21. The business's 50 day moving average price is $15.23 and its 200-day moving average price is $17.75. Movado Group, Inc. has a 52 week low of $12.85 and a 52 week high of $26.59.

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 for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). Movado Group had a return on equity of 5.38% and a net margin of 3.62%. The business had revenue of $131.77 million for the quarter, compared to analysts' expectations of $142.11 million. On average, sell-side analysts forecast that Movado Group, Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.43%. Movado Group's payout ratio is 175.00%.

Movado Group 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.