Voya Investment Management LLC Sells 3,966 Shares of Movado Group Inc. $MOV

Voya Investment Management LLC reduced its stake in Movado Group Inc. (NYSE:MOV) by 20.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,635 shares of the company’s stock after selling 3,966 shares during the period. Voya Investment Management LLC owned 0.07% of Movado Group worth $261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC lifted its holdings in shares of Movado Group by 14,191.7% in the first quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock valued at $29,000 after purchasing an additional 1,703 shares in the last quarter. GAMMA Investing LLC increased its position in Movado Group by 3,303.5% during the first quarter. GAMMA Investing LLC now owns 2,893 shares of the company’s stock worth $48,000 after buying an additional 2,808 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Movado Group by 1,597.5% during the first quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company’s stock worth $57,000 after buying an additional 3,211 shares during the last quarter. Aigen Investment Management LP grew its position in shares of Movado Group by 33.0% in the first quarter. Aigen Investment Management LP now owns 13,591 shares of the company’s stock valued at $227,000 after purchasing an additional 3,371 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Movado Group by 24.0% in the fourth 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.

Wall Street Analysts Forecast Growth

MOV has been the subject of several recent research reports. BWS Financial reiterated a “buy” rating and issued a $31.50 price target on shares of Movado Group in a research note on Friday, August 29th. Zacks Research downgraded shares of Movado Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded Movado Group from a “sell” rating to a “hold” rating in a report on Friday, June 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Movado Group has an average rating of “Hold” and a consensus target price of $31.50.

Movado Group Stock Performance

Shares of NYSE MOV opened at $18.88 on Tuesday. Movado Group Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $22.20. The stock has a market cap of $418.07 million, a price-to-earnings ratio of 24.52 and a beta of 1.23. The firm’s 50-day simple moving average is $17.59 and its 200 day simple moving average is $16.38.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.08). The firm had revenue of $161.83 million during the quarter, compared to analysts’ expectations of $156.84 million. Movado Group had a net margin of 2.66% and a return on equity of 5.45%. On average, sell-side analysts predict that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Monday, September 8th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, September 8th. This represents a $1.40 annualized dividend and a dividend yield of 7.4%. Movado Group’s dividend payout ratio (DPR) is presently 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.