Movado Group (NYSE:MOV) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Movado Group (NYSE:MOV - Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Separately, BWS Financial reissued a "buy" rating and set a $31.50 price objective on shares of Movado Group in a research report on Monday, April 21st.

Movado Group Stock Performance

NYSE MOV traded up $0.09 during trading hours on Wednesday, hitting $14.34. The company had a trading volume of 173,352 shares, compared to its average volume of 202,131. The business has a 50 day moving average of $16.04 and a 200-day moving average of $18.40. The company has a market cap of $318.88 million, a PE ratio of 13.79 and a beta of 1.17. Movado Group has a 1-year low of $12.85 and a 1-year high of $27.80.

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

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 9.76%. Movado Group's payout ratio is 160.92%.

Hedge Funds Weigh In On Movado Group

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

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.