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

StockNews.com lowered shares of Movado Group (NYSE:MOV - Free Report) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Separately, BWS Financial restated a "buy" rating and issued a $31.50 price target on shares of Movado Group in a report on Monday, April 21st.

Movado Group Stock Performance

Shares of NYSE:MOV traded down $0.03 during midday trading on Wednesday, hitting $14.34. 21,225 shares of the stock were exchanged, compared to its average volume of 201,417. Movado Group has a 12 month low of $12.85 and a 12 month high of $27.80. The stock has a market capitalization of $318.88 million, a price-to-earnings ratio of 13.81 and a beta of 1.17. The business's 50-day moving average price is $16.04 and its 200 day moving average price is $18.38.

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

Movado Group Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new stake in Movado Group in the 4th quarter valued at about $47,000. GAMMA Investing LLC grew its stake in Movado Group by 3,303.5% in the 1st quarter. GAMMA Investing LLC now owns 2,893 shares of the company's stock valued at $48,000 after buying an additional 2,808 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Movado Group by 1,597.5% during the first quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company's stock valued at $57,000 after buying an additional 3,211 shares during the period. Aigen Investment Management LP purchased a new stake in Movado Group in the 4th quarter worth approximately $201,000. Finally, Two Sigma Advisers LP grew its position in shares of Movado Group by 24.0% during the 4th quarter. Two Sigma Advisers LP now owns 12,400 shares of the company's stock valued at $244,000 after purchasing an additional 2,400 shares in the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

About Movado Group

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.