Nisa Investment Advisors LLC Sells 4,521 Shares of Movado Group Inc. (NYSE:MOV)

Nisa Investment Advisors LLC reduced its stake in Movado Group Inc. (NYSE:MOV) by 23.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,758 shares of the company’s stock after selling 4,521 shares during the period. Nisa Investment Advisors LLC owned 0.07% of Movado Group worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. VELA Investment Management LLC boosted its stake in shares of Movado Group by 26.3% during the first quarter. VELA Investment Management LLC now owns 143,397 shares of the company’s stock valued at $2,398,000 after purchasing an additional 29,823 shares in the last quarter. Millennium Management LLC lifted its position in Movado Group by 10.2% during the fourth quarter. Millennium Management LLC now owns 443,179 shares of the company’s stock valued at $8,722,000 after acquiring an additional 41,063 shares during the last quarter. Victory Capital Management Inc. lifted its position in Movado Group by 131.7% during the fourth quarter. Victory Capital Management Inc. now owns 37,835 shares of the company’s stock valued at $745,000 after acquiring an additional 21,505 shares during the last quarter. Landscape Capital Management L.L.C. lifted its position in Movado Group by 47.6% during the fourth quarter. Landscape Capital Management L.L.C. now owns 62,551 shares of the company’s stock valued at $1,231,000 after acquiring an additional 20,174 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Movado Group during the fourth quarter valued at approximately $707,000. 72.08% of the stock is currently owned by institutional investors.

Movado Group Stock Up 0.6%

Shares of NYSE MOV opened at $16.34 on Friday. The company’s 50-day simple moving average is $16.19 and its 200-day simple moving average is $17.03. Movado Group Inc. has a 52-week low of $12.85 and a 52-week high of $26.59. The firm has a market cap of $363.29 million, a price-to-earnings ratio of 20.42 and a beta of 1.19.

Movado Group (NYSE:MOV) last issued its earnings results on Thursday, May 29th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.31). The firm had revenue of $131.77 million for the quarter, compared to analysts’ expectations of $142.11 million. Movado Group had a return on equity of 5.10% and a net margin of 2.78%. Equities research analysts anticipate that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were given a $0.35 dividend. The ex-dividend date was Thursday, June 12th. This represents a $1.40 annualized dividend and a yield of 8.57%. Movado Group’s dividend payout ratio (DPR) is 175.00%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MOV. BWS Financial reaffirmed a “buy” rating and issued a $31.50 price target on shares of Movado Group in a report on Monday, June 2nd. Wall Street Zen upgraded shares of Movado Group from a “sell” rating to a “hold” rating in a research note on Friday, June 27th.

Movado Group 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.