Versor Investments LP Makes New Investment in Movado Group Inc. $MOV

Versor Investments LP bought a new position in Movado Group Inc. (NYSE:MOV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,100 shares of the company’s stock, valued at approximately $495,000. Versor Investments LP owned approximately 0.12% of Movado Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of Movado Group by 28.2% in the third quarter. CWM LLC now owns 3,318 shares of the company’s stock valued at $63,000 after purchasing an additional 730 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Movado Group by 20.4% during the third quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock valued at $88,000 after buying an additional 790 shares in the last quarter. Royal Bank of Canada raised its position in Movado Group by 4.1% during the first quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock valued at $444,000 after buying an additional 1,042 shares during the period. Geode Capital Management LLC lifted its stake in Movado Group by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 374,858 shares of the company’s stock worth $5,718,000 after acquiring an additional 1,131 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Movado Group by 69.8% in the third quarter. State of Wyoming now owns 4,407 shares of the company’s stock worth $84,000 after purchasing an additional 1,812 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Stock Performance

Shares of MOV stock opened at $24.05 on Friday. The stock’s 50 day simple moving average is $22.21 and its 200 day simple moving average is $19.66. Movado Group Inc. has a twelve month low of $12.85 and a twelve month high of $25.22. The company has a market capitalization of $532.42 million, a price-to-earnings ratio of 24.79 and a beta of 0.95.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Tuesday, November 25th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). The firm had revenue of $186.13 million during the quarter, compared to the consensus estimate of $185.89 million. Movado Group had a net margin of 3.33% and a return on equity of 5.86%. During the same period in the prior year, the business earned $0.22 EPS. On average, analysts forecast that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $1.40 dividend on an annualized basis and a yield of 5.8%. Movado Group’s dividend payout ratio (DPR) is 144.33%.

Insider Buying and Selling

In other news, SVP Michelle Kennedy sold 1,290 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the completion of the transaction, the senior vice president directly owned 27,857 shares in the company, valued at $581,932.73. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MOV has been the subject of a number of research analyst reports. Northland Securities started coverage on shares of Movado Group in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. BWS Financial restated a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research note on Monday, February 2nd. Zacks Research upgraded Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Finally, Wall Street Zen upgraded Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.75.

Movado Group Company Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.