Movado Group, Inc. (NYSE:MOV) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 178,098 shares of the company's stock after selling 43,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.80% of Movado Group worth $3,505,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in shares of Movado Group during the fourth quarter worth approximately $47,000. Aigen Investment Management LP purchased a new position in shares of Movado Group during the fourth quarter worth approximately $201,000. Wells Fargo & Company MN boosted its stake in shares of Movado Group by 18.4% during the fourth quarter. Wells Fargo & Company MN now owns 14,372 shares of the company's stock valued at $283,000 after purchasing an additional 2,234 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Movado Group during the fourth quarter valued at approximately $284,000. Finally, Virtu Financial LLC bought a new position in shares of Movado Group during the third quarter valued at approximately $364,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MOV shares. StockNews.com upgraded shares of Movado Group from a "hold" rating to a "buy" rating in a research note on Tuesday, April 22nd. BWS Financial reiterated a "buy" rating and set a $31.50 price objective on shares of Movado Group in a research note on Monday, April 21st.

Movado Group Stock Down 0.6 %

Shares of NYSE MOV traded down $0.08 during midday trading on Monday, reaching $13.88. 180,908 shares of the company's stock traded hands, compared to its average volume of 200,157. The company has a market cap of $307.34 million, a price-to-earnings ratio of 13.35 and a beta of 0.92. Movado Group, Inc. has a one year low of $12.85 and a one year high of $27.80. The stock's 50 day simple moving average is $16.50 and its 200-day simple moving average is $18.53.

Movado Group (NYSE:MOV - Get Free Report) last announced its earnings results 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. The company had revenue of $181.48 million during the quarter, compared to the consensus estimate of $180.62 million. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. Equities analysts predict that Movado Group, Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Tuesday, April 22nd will be paid a $0.35 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.40 annualized dividend and a yield of 10.09%. Movado Group's dividend payout ratio (DPR) is 160.92%.

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.