Movado Group Inc. (MOV) Position Held by D.C. Capital Advisors Ltd
D.C. Capital Advisors Ltd continued to hold its stake in Movado Group Inc. (NYSE:MOV) during the second quarter, Holdings Channel reports. The firm owned 100,000 shares of the company’s stock at the end of the second quarter. Movado Group accounts for approximately 1.7% of D.C. Capital Advisors Ltd’s portfolio, making the stock its 18th largest position. D.C. Capital Advisors Ltd’s holdings in Movado Group were worth $2,525,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in MOV. PNC Financial Services Group Inc. raised its stake in Movado Group by 1.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,777 shares of the company’s stock valued at $119,000 after buying an additional 47 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in Movado Group during the first quarter valued at about $161,000. Bank of Montreal Can raised its stake in Movado Group by 3.6% in the first quarter. Bank of Montreal Can now owns 7,732 shares of the company’s stock valued at $193,000 after buying an additional 268 shares during the last quarter. Arizona State Retirement System raised its stake in Movado Group by 1.3% in the first quarter. Arizona State Retirement System now owns 8,023 shares of the company’s stock valued at $200,000 after buying an additional 100 shares during the last quarter. Finally, Brandes Investment Partners LP bought a new stake in Movado Group during the first quarter valued at about $217,000. Institutional investors and hedge funds own 62.97% of the company’s stock.
Movado Group Inc. (NYSE:MOV) traded down 1.86% during mid-day trading on Tuesday, reaching $23.80. The company’s stock had a trading volume of 1,646 shares. Movado Group Inc. has a 52-week low of $20.23 and a 52-week high of $31.95. The firm has a 50 day moving average price of $24.61 and a 200 day moving average price of $23.94. The company has a market cap of $546.92 million, a price-to-earnings ratio of 19.92 and a beta of 0.35.
Movado Group (NYSE:MOV) last announced its earnings results on Thursday, May 25th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by $0.09. Movado Group had a return on equity of 7.04% and a net margin of 5.13%. The business had revenue of $99.30 million during the quarter, compared to analysts’ expectations of $100.23 million. During the same quarter in the previous year, the firm earned $0.19 EPS. Movado Group’s quarterly revenue was down 13.0% on a year-over-year basis. Equities research analysts anticipate that Movado Group Inc. will post $1.37 earnings per share for the current year.
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Several analysts recently issued reports on the company. ValuEngine upgraded Movado Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $31.00.
About Movado Group
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
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