Movado Group, Inc. (NYSE:MOV) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP trimmed its position in shares of Movado Group, Inc. (NYSE:MOV) by 54.8% during the third quarter, Holdings Channel reports. The firm owned 51,114 shares of the company’s stock after selling 62,095 shares during the quarter. GSA Capital Partners LLP’s holdings in Movado Group were worth $951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Movado Group in the 2nd quarter valued at $25,000. nVerses Capital LLC acquired a new stake in shares of Movado Group during the third quarter worth about $45,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Movado Group by 1,246.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock valued at $109,000 after purchasing an additional 3,616 shares during the period. SG Americas Securities LLC acquired a new position in shares of Movado Group in the second quarter valued at approximately $122,000. Finally, Banque Cantonale Vaudoise grew its holdings in shares of Movado Group by 117.2% in the second 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 Price Performance

MOV opened at $19.64 on Friday. The business has a fifty day moving average price of $19.09 and a 200 day moving average price of $23.04. Movado Group, Inc. has a 12 month low of $17.86 and a 12 month high of $31.44. The stock has a market capitalization of $436.40 million, a price-to-earnings ratio of 12.35 and a beta of 0.99.

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

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.35 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.13%. Movado Group’s payout ratio is 88.05%.

Analyst Ratings Changes

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

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.