Harbor Capital Advisors Inc. Has $57,000 Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Harbor Capital Advisors Inc. increased its position in Movado Group, Inc. (NYSE:MOV) by 1,597.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,412 shares of the company’s stock after buying an additional 3,211 shares during the period. Harbor Capital Advisors Inc.’s holdings in Movado Group were worth $57,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Movado Group by 3,303.5% in the 1st quarter. GAMMA Investing LLC now owns 2,893 shares of the company’s stock valued at $48,000 after buying an additional 2,808 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Movado Group during the 4th quarter valued at about $403,000. Public Employees Retirement System of Ohio boosted its stake in Movado Group by 194.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 31,437 shares of the company’s stock valued at $619,000 after purchasing an additional 20,744 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Movado Group by 71.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,277 shares of the company’s stock valued at $556,000 after purchasing an additional 11,783 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Movado Group by 24.0% during the 4th quarter. Two Sigma Advisers LP now owns 12,400 shares of the company’s stock valued at $244,000 after purchasing an additional 2,400 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MOV has been the subject of a number of analyst reports. BWS Financial reiterated a “buy” rating and set a $31.50 price target on shares of Movado Group in a research note on Monday, June 2nd. Wall Street Zen downgraded Movado Group from a “hold” rating to a “sell” rating in a research note on Friday, June 6th.

Movado Group Stock Performance

MOV stock opened at $14.85 on Monday. The company has a market capitalization of $330.22 million, a P/E ratio of 14.28 and a beta of 1.21. Movado Group, Inc. has a 52-week low of $12.85 and a 52-week high of $26.59. The business has a 50-day simple moving average of $15.23 and a two-hundred day simple moving average of $17.73.

Movado Group (NYSE:MOV) last announced its earnings results on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.31). Movado Group had a return on equity of 5.38% and a net margin of 3.62%. The business had revenue of $131.77 million during the quarter, compared to analysts’ expectations of $142.11 million. As a group, sell-side analysts forecast that Movado Group, Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.43%. Movado Group’s payout ratio is presently 175.00%.

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.