Pacer Advisors Inc. Acquires 38,038 Shares of Movado Group, Inc. (NYSE:MOV)

Pacer Advisors Inc. grew its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,014,073 shares of the company’s stock after acquiring an additional 38,038 shares during the period. Pacer Advisors Inc. owned about 4.57% of Movado Group worth $25,210,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Innealta Capital LLC acquired a new position in shares of Movado Group in the 2nd quarter valued at about $25,000. Quadrant Capital Group LLC grew its position in shares of Movado Group by 112.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company’s stock worth $32,000 after buying an additional 561 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Movado Group by 1,246.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock worth $109,000 after buying an additional 3,616 shares during the period. SG Americas Securities LLC bought a new stake in shares of Movado Group in the 2nd quarter valued at $122,000. Finally, Banque Cantonale Vaudoise lifted its position in shares of Movado Group by 117.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 5,581 shares of the company’s stock valued at $139,000 after acquiring an additional 3,011 shares during the period. Institutional investors own 72.08% of the company’s stock.

Movado Group Trading Down 0.2 %

Shares of Movado Group stock opened at $19.86 on Monday. The firm has a market capitalization of $441.09 million, a P/E ratio of 11.09 and a beta of 1.00. The business’s fifty day simple moving average is $23.21 and its 200 day simple moving average is $25.12. Movado Group, Inc. has a 12 month low of $18.02 and a 12 month high of $31.44.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $159.31 million for the quarter. Movado Group had a net margin of 5.45% and a return on equity of 7.23%. During the same period last year, the business posted $0.38 earnings per share. Analysts predict that Movado Group, Inc. will post 0.95 EPS for the current fiscal year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.05%. The ex-dividend date of this dividend is Monday, September 16th. Movado Group’s dividend payout ratio (DPR) is presently 78.21%.

Insider Activity

In other Movado Group news, SVP Michelle Kennedy sold 1,245 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total value of $32,432.25. Following the completion of the transaction, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 30.11% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on MOV shares. Benchmark restated a “buy” rating and issued a $41.00 target price on shares of Movado Group in a research note on Friday, May 31st. StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a report on Friday, September 6th.

Movado Group Company 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.