Pacer Advisors Inc. Purchases 40,128 Shares of Movado Group, Inc. (NYSE:MOV)

Pacer Advisors Inc. lifted its position in shares of Movado Group, Inc. (NYSE:MOV – Get Rating) by 50.9% during the first quarter, Holdings Channel reports. The firm owned 119,020 shares of the company’s stock after acquiring an additional 40,128 shares during the period. Pacer Advisors Inc.’s holdings in Movado Group were worth $4,648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd lifted its position in shares of Movado Group by 618.9% during the third quarter. Point72 Hong Kong Ltd now owns 913 shares of the company’s stock valued at $29,000 after purchasing an additional 786 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Movado Group by 241.1% during the fourth quarter. First Horizon Advisors Inc. now owns 1,286 shares of the company’s stock valued at $53,000 after purchasing an additional 909 shares in the last quarter. UMB Bank N A MO bought a new position in shares of Movado Group during the fourth quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Movado Group by 111.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,399 shares of the company’s stock worth $142,000 after buying an additional 1,795 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Movado Group by 22.9% during the fourth quarter. Lazard Asset Management LLC now owns 3,500 shares of the company’s stock worth $146,000 after buying an additional 653 shares during the last quarter. 65.26% of the stock is currently owned by institutional investors.

Separately, StockNews.com downgraded shares of Movado Group from a “strong-buy” rating to a “buy” rating in a report on Monday, May 30th.

In related news, Director Ann Kirschner sold 3,800 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $39.41, for a total transaction of $149,758.00. Following the completion of the transaction, the director now owns 13,897 shares of the company’s stock, valued at $547,680.77. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard D. Isserman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $37.86, for a total transaction of $189,300.00. Following the transaction, the director now directly owns 16,962 shares of the company’s stock, valued at approximately $642,181.32. The disclosure for this sale can be found here. 27.76% of the stock is owned by company insiders.

NYSE MOV opened at $32.16 on Thursday. Movado Group, Inc. has a 52-week low of $27.83 and a 52-week high of $48.66. The company has a 50-day simple moving average of $35.01 and a 200 day simple moving average of $37.31. The company has a market capitalization of $725.43 million, a PE ratio of 7.53 and a beta of 1.16.

Movado Group (NYSE:MOV – Get Rating) last posted its quarterly earnings data on Thursday, May 26th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.36. Movado Group had a net margin of 13.23% and a return on equity of 22.38%. During the same quarter in the prior year, the firm earned $0.43 earnings per share. On average, research analysts predict that Movado Group, Inc. will post 4.08 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $1.40 annualized dividend and a dividend yield of 4.35%. Movado Group’s payout ratio is 32.79%.

About Movado Group (Get Rating)

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari.

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