Quadrature Capital Ltd Takes Position in Movado Group, Inc. (NYSE:MOV)

Quadrature Capital Ltd acquired a new position in shares of Movado Group, Inc. (NYSE:MOV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,868 shares of the company’s stock, valued at approximately $314,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Royce & Associates LP boosted its stake in shares of Movado Group by 1.6% during the third quarter. Royce & Associates LP now owns 1,456,809 shares of the company’s stock valued at $27,097,000 after purchasing an additional 22,414 shares in the last quarter. Pacer Advisors Inc. boosted its position in Movado Group by 3.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock worth $25,210,000 after buying an additional 38,038 shares during the period. American Century Companies Inc. grew its holdings in Movado Group by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock worth $8,341,000 after acquiring an additional 43,316 shares during the last quarter. Denali Advisors LLC increased its position in Movado Group by 101.0% in the 2nd quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock valued at $4,818,000 after acquiring an additional 97,400 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Movado Group by 3.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 112,325 shares of the company’s stock valued at $2,089,000 after acquiring an additional 4,162 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Trading Up 0.8 %

Shares of MOV stock opened at $20.95 on Wednesday. Movado Group, Inc. has a 1-year low of $17.86 and a 1-year high of $31.44. The stock has a market cap of $465.55 million, a price-to-earnings ratio of 20.14 and a beta of 1.04. The stock has a 50-day moving average of $19.48 and a 200-day moving average of $22.22.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 6.68%. Movado Group’s payout ratio is 134.62%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note 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.