Movado Group, Inc. (NYSE:MOV) Shares Sold by Teton Advisors Inc.

Teton Advisors Inc. lowered its position in shares of Movado Group, Inc. (NYSE:MOV) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,100 shares of the company’s stock after selling 2,400 shares during the period. Teton Advisors Inc. owned approximately 0.11% of Movado Group worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Movado Group by 50.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,535 shares of the company’s stock valued at $137,000 after purchasing an additional 1,529 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Movado Group in the 4th quarter valued at approximately $205,000. Louisiana State Employees Retirement System acquired a new stake in Movado Group in the 4th quarter valued at approximately $235,000. Finally, Vest Financial LLC acquired a new stake in Movado Group in the 4th quarter valued at approximately $236,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Stock Up 1.1 %

MOV stock traded up $0.29 during midday trading on Thursday, hitting $25.89. The company’s stock had a trading volume of 76,155 shares, compared to its average volume of 189,058. Movado Group, Inc. has a 52-week low of $23.94 and a 52-week high of $31.44. The firm has a market capitalization of $572.95 million, a P/E ratio of 12.43 and a beta of 1.14. The firm has a 50-day simple moving average of $26.93 and a 200-day simple moving average of $28.04.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.55 EPS for the quarter. Movado Group had a net margin of 6.94% and a return on equity of 9.56%. The company had revenue of $179.62 million during the quarter. On average, sell-side analysts expect that Movado Group, Inc. will post 1.25 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were given a $0.35 dividend. The ex-dividend date was Monday, April 8th. This represents a $1.40 annualized dividend and a yield of 5.41%. Movado Group’s dividend payout ratio is presently 67.96%.

Analyst Ratings Changes

Separately, Benchmark reiterated a “buy” rating and issued a $41.00 target price on shares of Movado Group in a report on Wednesday, March 27th.

About Movado Group

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.