Dimensional Fund Advisors LP lessened its stake in shares of Movado Group, Inc (NYSE:MOV) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,382,484 shares of the company’s stock after selling 25,558 shares during the quarter. Dimensional Fund Advisors LP owned about 6.02% of Movado Group worth $38,710,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new stake in Movado Group in the 3rd quarter worth about $101,000. PNC Financial Services Group Inc. raised its stake in Movado Group by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,855 shares of the company’s stock worth $122,000 after purchasing an additional 78 shares in the last quarter. QS Investors LLC raised its stake in Movado Group by 0.5% in the 2nd quarter. QS Investors LLC now owns 5,748 shares of the company’s stock worth $145,000 after purchasing an additional 27 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Movado Group by 13.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,617 shares of the company’s stock worth $167,000 after purchasing an additional 776 shares in the last quarter. Finally, Van Hulzen Asset Management LLC acquired a new stake in Movado Group in the 3rd quarter worth about $210,000. Institutional investors own 64.56% of the company’s stock.
In other Movado Group news, Director Richard D. Isserman sold 2,650 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $32.07, for a total transaction of $84,985.50. Following the sale, the director now directly owns 11,184 shares of the company’s stock, valued at approximately $358,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Cote sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $32.02, for a total transaction of $51,232.00. Following the sale, the director now directly owns 397,296 shares in the company, valued at $12,721,417.92. The disclosure for this sale can be found here. Insiders have sold a total of 14,451 shares of company stock worth $446,622 over the last ninety days. 32.98% of the stock is currently owned by insiders.
Shares of Movado Group, Inc (NYSE MOV) traded down $1.15 during trading on Friday, hitting $29.65. 72,909 shares of the company traded hands, compared to its average volume of 76,892. The company has a market cap of $706.52, a price-to-earnings ratio of 28.79 and a beta of -0.02. The company has a quick ratio of 3.12, a current ratio of 4.80 and a debt-to-equity ratio of 0.05. Movado Group, Inc has a 12 month low of $20.50 and a 12 month high of $33.95.
Movado Group (NYSE:MOV) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.18. The company had revenue of $190.69 million for the quarter, compared to analyst estimates of $176.33 million. Movado Group had a net margin of 4.35% and a return on equity of 8.34%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. equities research analysts predict that Movado Group, Inc will post 1.74 EPS for the current year.
Several equities analysts have recently commented on MOV shares. ValuEngine upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Zacks Investment Research cut shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Finally, KeyCorp restated a “hold” rating on shares of Movado Group in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Movado Group currently has an average rating of “Hold” and an average price target of $28.50.
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Movado Group Profile
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
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