Empowered Funds LLC Purchases 4,958 Shares of Movado Group, Inc. (NYSE:MOV)

Empowered Funds LLC lifted its stake in Movado Group, Inc. (NYSE:MOV) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,722 shares of the company’s stock after buying an additional 4,958 shares during the quarter. Empowered Funds LLC owned about 0.44% of Movado Group worth $1,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Denali Advisors LLC lifted its position in shares of Movado Group by 101.0% during the second quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock worth $4,818,000 after purchasing an additional 97,400 shares during the last quarter. Squarepoint Ops LLC raised its position in Movado Group by 467.9% during the 2nd quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock worth $2,463,000 after buying an additional 81,637 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Movado Group in the 3rd quarter valued at about $1,343,000. Sanctuary Advisors LLC acquired a new stake in shares of Movado Group during the 2nd quarter valued at about $1,497,000. Finally, VELA Investment Management LLC purchased a new stake in Movado Group during the 3rd quarter worth approximately $955,000. Institutional investors own 72.08% of the company’s stock.

Movado Group Stock Performance

Shares of MOV opened at $18.74 on Thursday. Movado Group, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $31.44. The company has a market capitalization of $416.40 million, a price-to-earnings ratio of 11.79 and a beta of 0.99. The firm has a 50-day simple moving average of $19.12 and a 200-day simple moving average of $22.88.

Movado Group (NYSE:MOV) last released its earnings results on Thursday, September 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). Movado Group had a net margin of 5.45% and a return on equity of 7.23%. The business had revenue of $159.31 million during the quarter. During the same period in the prior year, the firm earned $0.38 EPS. Equities research analysts forecast that Movado Group, Inc. will post 0.95 EPS for the current year.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.47%. The ex-dividend date was Monday, September 16th. Movado Group’s dividend payout ratio (DPR) is 88.05%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut 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.