Numerai GP LLC Takes $3.19 Million Position in Movado Group, Inc. (NYSE:MOV)

Numerai GP LLC bought a new position in shares of Movado Group, Inc. (NYSE:MOV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 161,889 shares of the company's stock, valued at approximately $3,186,000. Movado Group accounts for approximately 0.9% of Numerai GP LLC's investment portfolio, making the stock its 10th largest holding. Numerai GP LLC owned 0.73% of Movado Group as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Movado Group by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,395 shares of the company's stock worth $500,000 after acquiring an additional 848 shares during the period. Barclays PLC increased its stake in Movado Group by 5.3% during the 4th quarter. Barclays PLC now owns 28,080 shares of the company's stock valued at $552,000 after buying an additional 1,416 shares during the period. Exchange Traded Concepts LLC increased its stake in 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 buying an additional 1,994 shares during the period. Wells Fargo & Company MN increased its stake in Movado Group by 18.4% during the 4th quarter. Wells Fargo & Company MN now owns 14,372 shares of the company's stock valued at $283,000 after buying an additional 2,234 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Movado Group during the 4th quarter valued at about $47,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Movado Group Stock Up 1.5%

Movado Group stock traded up $0.26 during trading hours on Friday, hitting $17.35. 179,487 shares of the company traded hands, compared to its average volume of 206,613. Movado Group, Inc. has a 1-year low of $12.85 and a 1-year high of $27.75. The firm's 50-day simple moving average is $15.47 and its two-hundred day simple moving average is $18.18. The firm has a market cap of $385.81 million, a P/E ratio of 16.68 and a beta of 1.17.

Movado Group (NYSE:MOV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.12. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The company had revenue of $181.48 million during the quarter, compared to analyst estimates of $180.62 million. On average, equities research analysts predict that Movado Group, Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.40 annualized dividend and a dividend yield of 8.07%. Movado Group's dividend payout ratio (DPR) is 160.92%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MOV shares. StockNews.com cut shares of Movado Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. BWS Financial reissued a "buy" rating and set a $31.50 target price on shares of Movado Group in a research note 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.