NumerixS Investment Technologies Inc increased its stake in Movado Group, Inc (NYSE:MOV) by 54.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,400 shares of the company’s stock after buying an additional 1,200 shares during the quarter. NumerixS Investment Technologies Inc’s holdings in Movado Group were worth $136,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan purchased a new position in Movado Group in the 4th quarter valued at approximately $149,000. Metropolitan Life Insurance Co. NY boosted its position in Movado Group by 385.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,763 shares of the company’s stock valued at $182,000 after buying an additional 4,576 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in Movado Group in the 4th quarter valued at approximately $198,000. BNP Paribas Arbitrage SA boosted its position in Movado Group by 51.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,624 shares of the company’s stock valued at $205,000 after buying an additional 1,901 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Movado Group in the 1st quarter valued at approximately $206,000. Institutional investors own 71.44% of the company’s stock.
MOV has been the topic of a number of analyst reports. TheStreet lowered shares of Movado Group from a “b-” rating to a “c+” rating in a report on Monday. Zacks Investment Research upgraded shares of Movado Group from a “sell” rating to a “hold” rating in a report on Friday, June 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $49.00.
Shares of MOV opened at $26.35 on Friday. Movado Group, Inc has a twelve month low of $24.48 and a twelve month high of $52.10. The firm has a market capitalization of $576.43 million, a PE ratio of 9.87 and a beta of 0.43. The company has a current ratio of 3.99, a quick ratio of 2.40 and a debt-to-equity ratio of 0.26.
Movado Group (NYSE:MOV) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.06). Movado Group had a return on equity of 12.43% and a net margin of 8.22%. The company had revenue of $146.55 million for the quarter, compared to analyst estimates of $148.70 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. Movado Group’s revenue was up 15.3% compared to the same quarter last year. Equities analysts expect that Movado Group, Inc will post 2.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Tuesday, June 11th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 3.04%. Movado Group’s dividend payout ratio is currently 29.96%.
Movado Group Company Profile
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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