Acadian Asset Management LLC Acquires 8,436 Shares of Movado Group Inc. $MOV

Acadian Asset Management LLC lifted its holdings in Movado Group Inc. (NYSE:MOV) by 11.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,208 shares of the company’s stock after buying an additional 8,436 shares during the quarter. Acadian Asset Management LLC owned about 0.36% of Movado Group worth $1,322,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MOV. Goldman Sachs Group Inc. raised its position in Movado Group by 212.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock worth $11,226,000 after purchasing an additional 456,727 shares during the last quarter. Royce & Associates LP raised its position in shares of Movado Group by 10.3% during the first quarter. Royce & Associates LP now owns 1,628,031 shares of the company’s stock worth $27,221,000 after acquiring an additional 152,677 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Movado Group during the first quarter worth $1,426,000. Deutsche Bank AG raised its position in shares of Movado Group by 839.8% during the fourth quarter. Deutsche Bank AG now owns 91,500 shares of the company’s stock worth $1,801,000 after acquiring an additional 81,764 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Movado Group by 293.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 97,842 shares of the company’s stock worth $1,636,000 after purchasing an additional 72,970 shares during the last quarter. 72.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. BWS Financial reissued a “buy” rating and set a $31.50 price objective on shares of Movado Group in a report on Friday, August 29th. Wall Street Zen raised shares of Movado Group from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Zacks Research cut shares of Movado Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Movado Group currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Movado Group Stock Performance

NYSE:MOV opened at $19.77 on Thursday. The company has a market cap of $437.60 million, a PE ratio of 25.67 and a beta of 1.24. Movado Group Inc. has a 52-week low of $12.85 and a 52-week high of $22.20. The stock has a 50-day simple moving average of $17.15 and a 200 day simple moving average of $16.34.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.08). The business had revenue of $161.83 million for the quarter, compared to the consensus estimate of $156.84 million. Movado Group had a return on equity of 5.45% and a net margin of 2.66%. On average, research analysts predict 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 Monday, September 22nd. Investors of record on Monday, September 8th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.40 dividend on an annualized basis and a yield of 7.1%. Movado Group’s dividend payout ratio (DPR) is 181.82%.

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.