Dark Forest Capital Management LP Takes Position in Movado Group, Inc. (NYSE:MOV)

Dark Forest Capital Management LP bought a new position in Movado Group, Inc. (NYSE:MOV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,113 shares of the company’s stock, valued at approximately $301,000. Dark Forest Capital Management LP owned about 0.05% of Movado Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Movado Group in the 2nd quarter valued at $25,000. Allspring Global Investments Holdings LLC grew its position in Movado Group by 1,246.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock valued at $109,000 after acquiring an additional 3,616 shares during the period. SG Americas Securities LLC acquired a new stake in Movado Group during the second quarter worth about $122,000. EntryPoint Capital LLC raised its holdings in shares of Movado Group by 54.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,293 shares of the company’s stock worth $148,000 after purchasing an additional 1,859 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Movado Group by 117.2% in the 2nd 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. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Stock Up 1.8 %

NYSE MOV opened at $18.97 on Monday. Movado Group, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $31.44. The business has a 50 day moving average price of $22.54 and a two-hundred day moving average price of $24.81. The stock has a market cap of $421.32 million, a PE ratio of 10.60 and a beta of 1.00.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Movado Group had a net margin of 5.45% and a return on equity of 7.23%. The firm had revenue of $159.31 million for the quarter. During the same period last year, the firm posted $0.38 earnings per share. Sell-side analysts anticipate that Movado Group, Inc. will post 0.95 EPS for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.38%. The ex-dividend date of this dividend is Monday, September 16th. Movado Group’s dividend payout ratio (DPR) is 78.21%.

Analyst Ratings Changes

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

Insider Activity at Movado Group

In other Movado Group news, SVP Michelle Kennedy sold 1,245 shares of Movado Group stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total transaction of $32,432.25. Following the sale, the senior vice president now directly owns 12,202 shares in the company, valued at approximately $317,862.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 30.11% of the stock is currently owned by company insiders.

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.