Movado Group, Inc. (NYSE:MOV) Shares Acquired by Denali Advisors LLC

Denali Advisors LLC grew its holdings in Movado Group, Inc. (NYSE:MOV) by 195.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,400 shares of the company’s stock after buying an additional 63,800 shares during the quarter. Denali Advisors LLC owned about 0.44% of Movado Group worth $2,692,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MOV. Quadrant Capital Group LLC increased its stake in Movado Group by 112.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company’s stock valued at $32,000 after purchasing an additional 561 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Movado Group by 1,246.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock worth $109,000 after buying an additional 3,616 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Movado Group by 50.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,535 shares of the company’s stock worth $137,000 after buying an additional 1,529 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Movado Group during the fourth quarter worth $205,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Movado Group during the fourth quarter worth $235,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Benchmark restated a “buy” rating and set a $41.00 price objective on shares of Movado Group in a report on Friday, May 31st.

Movado Group Stock Up 1.1 %

Shares of MOV stock traded up $0.26 during mid-day trading on Wednesday, hitting $24.72. 67,534 shares of the company’s stock were exchanged, compared to its average volume of 169,903. Movado Group, Inc. has a fifty-two week low of $23.94 and a fifty-two week high of $31.44. The stock has a 50-day simple moving average of $26.01 and a two-hundred day simple moving average of $27.32. The stock has a market cap of $549.03 million, a price-to-earnings ratio of 13.66 and a beta of 1.04.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.13 earnings per share (EPS) for the quarter. Movado Group had a return on equity of 8.18% and a net margin of 6.09%. The business had revenue of $136.67 million for the quarter. As a group, analysts anticipate that Movado Group, Inc. will post 1.25 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date was Wednesday, June 12th. Movado Group’s payout ratio is currently 78.21%.

Movado Group Company 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.