Versor Investments LP Purchases 3,500 Shares of Movado Group, Inc. (NYSE:MOV)

Versor Investments LP boosted its position in Movado Group, Inc. (NYSE:MOV) by 24.3% during the third quarter, HoldingsChannel reports. The fund owned 17,881 shares of the company’s stock after buying an additional 3,500 shares during the quarter. Versor Investments LP’s holdings in Movado Group were worth $333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Denali Advisors LLC increased its position in shares of Movado Group by 101.0% during the second quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock valued at $4,818,000 after buying an additional 97,400 shares during the period. Squarepoint Ops LLC increased its position in shares of Movado Group by 467.9% during the second quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock valued at $2,463,000 after buying an additional 81,637 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Movado Group during the third quarter valued at about $1,343,000. Sanctuary Advisors LLC bought a new stake in shares of Movado Group during the second quarter valued at about $1,497,000. Finally, VELA Investment Management LLC bought a new stake in shares of Movado Group during the third quarter valued at about $955,000. 72.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Movado Group Trading Up 1.1 %

Shares of NYSE MOV opened at $19.64 on Friday. Movado Group, Inc. has a 12 month low of $17.86 and a 12 month high of $31.44. The firm has a market capitalization of $436.40 million, a price-to-earnings ratio of 12.35 and a beta of 0.99. The business has a 50-day moving average of $19.09 and a 200-day moving average of $23.04.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). Movado Group had a return on equity of 7.23% and a net margin of 5.45%. The business had revenue of $159.31 million for the quarter. During the same period last year, the firm earned $0.38 earnings per share. On average, analysts predict that Movado Group, Inc. will post 0.95 earnings per share for the current year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.13%. The ex-dividend date was Monday, September 16th. Movado Group’s dividend payout ratio is currently 88.05%.

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.