Movado Group, Inc (MOV) Holdings Reduced by Systematic Financial Management LP
Systematic Financial Management LP reduced its position in Movado Group, Inc (NYSE:MOV) by 27.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,876 shares of the company’s stock after selling 11,190 shares during the quarter. Systematic Financial Management LP owned about 0.13% of Movado Group worth $1,395,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in MOV. Acadian Asset Management LLC bought a new position in Movado Group in the 2nd quarter valued at about $19,878,000. Matarin Capital Management LLC bought a new position in Movado Group in the 1st quarter valued at about $4,313,000. North Star Investment Management Corp. bought a new position in Movado Group in the 2nd quarter valued at about $3,495,000. LSV Asset Management increased its holdings in Movado Group by 28.7% in the 1st quarter. LSV Asset Management now owns 296,772 shares of the company’s stock valued at $11,396,000 after buying an additional 66,100 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Movado Group by 415.6% in the 2nd quarter. SG Americas Securities LLC now owns 46,731 shares of the company’s stock valued at $2,257,000 after buying an additional 37,667 shares during the period. 64.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Alan H. Howard sold 7,500 shares of Movado Group stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $49.12, for a total transaction of $368,400.00. Following the sale, the director now directly owns 38,479 shares of the company’s stock, valued at approximately $1,890,088.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Cote sold 40,000 shares of Movado Group stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $52.41, for a total transaction of $2,096,400.00. Following the sale, the director now directly owns 209,498 shares in the company, valued at $10,979,790.18. The disclosure for this sale can be found here. Insiders have sold a total of 114,448 shares of company stock worth $5,858,628 over the last ninety days. 30.56% of the stock is currently owned by insiders.
Movado Group (NYSE:MOV) last announced its quarterly earnings results on Wednesday, May 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.26. The company had revenue of $127.10 million for the quarter, compared to analyst estimates of $109.47 million. Movado Group had a negative net margin of 0.50% and a positive return on equity of 11.59%. The firm’s revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. research analysts anticipate that Movado Group, Inc will post 2.41 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on MOV shares. ValuEngine raised shares of Movado Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 1st. Sidoti lowered shares of Movado Group from a “buy” rating to a “neutral” rating in a report on Tuesday, June 12th. Finally, Zacks Investment Research lowered shares of Movado Group from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $39.00.
Movado Group Company Profile
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
Recommended Story: Leveraged Buyout (LBO)
Want to see what other hedge funds are holding MOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Movado Group, Inc (NYSE:MOV).
Receive News & Ratings for Movado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group and related companies with MarketBeat.com's FREE daily email newsletter.