Movado Group, Inc. (NYSE:MOV) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP decreased its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 54.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,114 shares of the company’s stock after selling 62,095 shares during the quarter. GSA Capital Partners LLP owned about 0.23% of Movado Group worth $951,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Denali Advisors LLC boosted its holdings in shares of Movado Group by 101.0% during the 2nd quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock worth $4,818,000 after purchasing an additional 97,400 shares during the last quarter. Squarepoint Ops LLC lifted its position in Movado Group by 467.9% during the second quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock worth $2,463,000 after buying an additional 81,637 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Movado Group during the third quarter worth $1,343,000. Sanctuary Advisors LLC purchased a new stake in Movado Group in the 2nd quarter valued at $1,497,000. Finally, VELA Investment Management LLC acquired a new stake in shares of Movado Group in the 3rd quarter worth $955,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Price Performance

Movado Group stock opened at $19.64 on Friday. The firm has a 50 day simple moving average of $19.09 and a 200-day simple moving average of $23.04. The stock has a market cap of $436.40 million, a price-to-earnings ratio of 12.35 and a beta of 0.99. Movado Group, Inc. has a 1-year low of $17.86 and a 1-year high of $31.44.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.16 earnings per share 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 during the quarter. During the same period last year, the firm earned $0.38 EPS. Equities analysts expect that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.40 annualized dividend and a yield of 7.13%. Movado Group’s dividend payout ratio (DPR) is currently 88.05%.

Wall Street Analyst Weigh In

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

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.