Movado Group Inc. $MOV Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC decreased its holdings in shares of Movado Group Inc. (NYSE:MOV) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,918 shares of the company’s stock after selling 763 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Movado Group were worth $716,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC raised its holdings in Movado Group by 14,191.7% during the first quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock worth $29,000 after purchasing an additional 1,703 shares in the last quarter. CWM LLC grew its position in shares of Movado Group by 49.9% in the 2nd quarter. CWM LLC now owns 2,588 shares of the company’s stock valued at $39,000 after buying an additional 862 shares during the last quarter. Aigen Investment Management LP raised its stake in Movado Group by 33.0% during the 1st quarter. Aigen Investment Management LP now owns 13,591 shares of the company’s stock worth $227,000 after acquiring an additional 3,371 shares in the last quarter. Algert Global LLC purchased a new stake in Movado Group in the first quarter valued at $287,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Movado Group in the first quarter valued at $343,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Stock Performance

Shares of MOV opened at $18.84 on Monday. Movado Group Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $22.20. The firm has a 50-day simple moving average of $18.59 and a 200-day simple moving average of $16.65. The company has a market capitalization of $417.14 million, a price-to-earnings ratio of 24.47 and a beta of 1.22.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.08). Movado Group had a net margin of 2.66% and a return on equity of 5.45%. The company had revenue of $161.83 million during the quarter, compared to analyst estimates of $156.84 million. Equities research analysts forecast that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Monday, September 8th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $1.40 annualized dividend and a dividend yield of 7.4%. Movado Group’s dividend payout ratio (DPR) is currently 181.82%.

Analyst Ratings Changes

MOV has been the topic of a number of research analyst reports. BWS Financial reiterated a “buy” rating and set a $31.50 target price on shares of Movado Group in a research report on Friday, August 29th. Zacks Research downgraded Movado Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings cut Movado Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Movado Group has an average rating of “Reduce” and a consensus target price of $31.50.

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.