Y Intercept Hong Kong Ltd Makes New Investment in Movado Group Inc. (NYSE:MOV)

Y Intercept Hong Kong Ltd bought a new stake in shares of Movado Group Inc. (NYSE:MOV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,437 shares of the company's stock, valued at approximately $392,000. Y Intercept Hong Kong Ltd owned approximately 0.11% of Movado Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MOV. American Century Companies Inc. grew its position in Movado Group by 2.5% in the 4th quarter. American Century Companies Inc. now owns 409,585 shares of the company's stock worth $8,061,000 after purchasing an additional 9,851 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Movado Group in the 4th quarter worth approximately $47,000. Vanguard Group Inc. grew its position in Movado Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 959,424 shares of the company's stock worth $18,881,000 after purchasing an additional 9,999 shares during the period. JPMorgan Chase & Co. grew its position in Movado Group by 36.6% in the 4th quarter. JPMorgan Chase & Co. now owns 103,413 shares of the company's stock worth $2,035,000 after purchasing an additional 27,719 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Movado Group by 202.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock worth $9,414,000 after acquiring an additional 320,103 shares during the last quarter. Institutional investors own 72.08% of the company's stock.

Movado Group Price Performance

Shares of Movado Group stock traded down $0.48 during trading hours on Friday, reaching $15.03. The company's stock had a trading volume of 30,874 shares, compared to its average volume of 188,968. The firm has a 50 day moving average price of $16.10 and a 200-day moving average price of $16.82. Movado Group Inc. has a one year low of $12.85 and a one year high of $24.98. The stock has a market cap of $334.22 million, a P/E ratio of 18.75 and a beta of 1.19.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.31). The firm had revenue of $131.77 million for the quarter, compared to the consensus estimate of $142.11 million. Movado Group had a net margin of 2.78% and a return on equity of 5.10%. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.3%. Movado Group's dividend payout ratio (DPR) is currently 175.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MOV. BWS Financial reiterated a "buy" rating and set a $31.50 price target on shares of Movado Group in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of Movado Group from a "sell" rating to a "hold" rating in a research note on Friday, June 27th.

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.