4,167 Shares in Movado Group, Inc. (NYSE:MOV) Purchased by Point72 DIFC Ltd

Point72 DIFC Ltd acquired a new stake in shares of Movado Group, Inc. (NYSE:MOV) in the third quarter, HoldingsChannel.com reports. The firm acquired 4,167 shares of the company’s stock, valued at approximately $78,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Movado Group during the second quarter valued at approximately $25,000. nVerses Capital LLC purchased a new stake in Movado Group during the 3rd quarter valued at $45,000. SG Americas Securities LLC bought a new stake in shares of Movado Group in the 2nd quarter worth $122,000. FMR LLC raised its stake in shares of Movado Group by 393.0% in the third quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after purchasing an additional 5,899 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Movado Group by 117.2% during the second quarter. Banque Cantonale Vaudoise now owns 5,581 shares of the company’s stock valued at $139,000 after purchasing an additional 3,011 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Movado Group Trading Up 0.3 %

Shares of MOV stock opened at $20.86 on Monday. Movado Group, Inc. has a 12-month low of $17.86 and a 12-month high of $31.44. The stock has a market capitalization of $463.51 million, a P/E ratio of 20.06 and a beta of 1.04. The firm’s 50 day moving average is $19.40 and its 200 day moving average is $22.31.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The firm had revenue of $159.31 million during the quarter. Movado Group had a return on equity of 7.23% and a net margin of 5.45%. During the same quarter in the prior year, the business posted $0.38 EPS. As a group, equities analysts predict that Movado Group, Inc. will post 0.9 earnings per share for the current year.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.35 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 6.71%. Movado Group’s payout ratio is 134.62%.

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.