Vanguard Group Inc. increased its stake in shares of Movado Group Inc. (NYSE:MOV) by 4.5% during the first quarter, Holdings Channel reports. The institutional investor owned 1,557,766 shares of the company’s stock after buying an additional 67,655 shares during the period. Vanguard Group Inc. owned approximately 0.07% of Movado Group worth $38,866,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position 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 in the last quarter. Arizona State Retirement System increased its position 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 in the last quarter. Bank of Montreal Can increased its position 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 in the last quarter. Virginia Retirement Systems ET AL increased its position in Movado Group by 1.1% in the first quarter. Virginia Retirement Systems ET AL now owns 35,700 shares of the company’s stock valued at $891,000 after buying an additional 400 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its position in Movado Group by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 15,273 shares of the company’s stock valued at $381,000 after buying an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 62.97% of the company’s stock.

Movado Group Inc. (NYSE MOV) traded up 0.21% during trading on Monday, hitting $24.30. 2,782 shares of the company’s stock traded hands. Movado Group Inc. has a 52-week low of $20.23 and a 52-week high of $31.95. The company has a market cap of $558.41 million, a PE ratio of 20.33 and a beta of 0.35. The company’s 50 day moving average price is $24.60 and its 200 day moving average price is $24.00.

Movado Group (NYSE:MOV) last released its earnings results on Thursday, May 25th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.09. The business had revenue of $99.30 million for the quarter, compared to the consensus estimate of $100.23 million. Movado Group had a return on equity of 7.04% and a net margin of 5.13%. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Analysts expect that Movado Group Inc. will post $1.37 earnings per share for the current year.

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Several equities analysts have commented on the stock. ValuEngine downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of 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 currently has a consensus 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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Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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