Jacobs Levy Equity Management Inc. Purchases 195,465 Shares of Movado Group, Inc. (NYSE:MOV)

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 174.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,790 shares of the company's stock after acquiring an additional 195,465 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.39% of Movado Group worth $6,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its position in Movado Group by 368.7% during the 3rd quarter. Barclays PLC now owns 26,664 shares of the company's stock valued at $496,000 after purchasing an additional 20,975 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Movado Group by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company's stock valued at $1,340,000 after purchasing an additional 1,994 shares in the last quarter. Empowered Funds LLC increased its position in shares of Movado Group by 5.1% during the fourth quarter. Empowered Funds LLC now owns 102,680 shares of the company's stock valued at $2,021,000 after buying an additional 4,958 shares during the period. Bank of New York Mellon Corp raised its stake in Movado Group by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company's stock worth $4,320,000 after buying an additional 22,578 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Movado Group in the fourth quarter worth about $804,000. Hedge funds and other institutional investors own 72.08% of the company's stock.

Movado Group Stock Performance

Shares of Movado Group stock traded down $0.35 during trading on Monday, hitting $17.01. The company's stock had a trading volume of 61,855 shares, compared to its average volume of 206,040. Movado Group, Inc. has a 52 week low of $12.85 and a 52 week high of $27.75. The company has a market capitalization of $378.14 million, a PE ratio of 16.33 and a beta of 1.17. The company has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $18.17.

Movado Group (NYSE:MOV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.12. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The business had revenue of $181.48 million for the quarter, compared to analysts' expectations of $180.62 million. As a group, analysts predict that Movado Group, Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Tuesday, April 22nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.23%. Movado Group's dividend payout ratio is currently 160.92%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MOV shares. StockNews.com downgraded Movado Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. BWS Financial restated a "buy" rating and set a $31.50 price target on shares of Movado Group in a research report on Monday, April 21st.

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.