Movado Group, Inc. (NYSE:MOV) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its holdings in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 72.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Empowered Funds LLC grew its stake in shares of Movado Group by 5.1% in the fourth quarter. Empowered Funds LLC now owns 102,680 shares of the company's stock worth $2,021,000 after purchasing an additional 4,958 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Movado Group by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company's stock worth $4,320,000 after acquiring an additional 22,578 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Movado Group during the fourth quarter valued at $804,000. VELA Investment Management LLC lifted its position in Movado Group by 121.1% during the fourth quarter. VELA Investment Management LLC now owns 113,574 shares of the company's stock valued at $2,235,000 after purchasing an additional 62,214 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Movado Group by 131.7% during the 4th quarter. Victory Capital Management Inc. now owns 37,835 shares of the company's stock valued at $745,000 after buying an additional 21,505 shares during the period. Hedge funds and other institutional investors own 72.08% of the company's stock.

Movado Group Trading Down 3.8%

Shares of MOV traded down $0.60 during midday trading on Thursday, reaching $15.39. 178,000 shares of the stock were exchanged, compared to its average volume of 211,883. The company's 50 day moving average is $15.17 and its two-hundred day moving average is $17.83. The company has a market capitalization of $342.23 million, a P/E ratio of 14.80 and a beta of 1.21. 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 announced its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The company had revenue of $131.77 million during the quarter, compared to analysts' expectations of $142.11 million. On average, sell-side analysts expect that Movado Group, Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

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 given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 9.10%. The ex-dividend date of this dividend is Thursday, June 12th. Movado Group's payout ratio is 175.00%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BWS Financial reiterated a "buy" rating and set a $31.50 price objective on shares of Movado Group in a research note 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 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.