Movado Group, Inc. (NYSE:MOV) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 105.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,029 shares of the company’s stock after purchasing an additional 7,712 shares during the period. Victory Capital Management Inc. owned 0.07% of Movado Group worth $374,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Banque Cantonale Vaudoise increased its position in shares of Movado Group by 117.2% in 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. Crossmark Global Holdings Inc. acquired a new position in shares of Movado Group in the 2nd quarter valued at $211,000. Innealta Capital LLC acquired a new position in shares of Movado Group in the 2nd quarter valued at $25,000. Nisa Investment Advisors LLC increased its position in shares of Movado Group by 59.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,247 shares of the company’s stock valued at $628,000 after acquiring an additional 9,457 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Movado Group in the 2nd quarter valued at $122,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MOV has been the topic of several research reports. Benchmark reissued a “buy” rating and issued a $41.00 target price on shares of Movado Group in a research report on Friday, May 31st. StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Insider Transactions at Movado Group

In other news, SVP Michelle Kennedy sold 1,245 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total transaction of $32,432.25. Following the sale, the senior vice president now directly owns 12,202 shares of the company’s stock, valued at approximately $317,862.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 30.11% of the company’s stock.

Movado Group Stock Performance

Shares of MOV opened at $19.18 on Tuesday. The business’s 50-day moving average is $23.10 and its two-hundred day moving average is $25.06. The company has a market capitalization of $425.99 million, a P/E ratio of 10.72 and a beta of 1.00. Movado Group, Inc. has a fifty-two week low of $18.02 and a fifty-two week high of $31.44.

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

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.30%. The ex-dividend date is Monday, September 16th. Movado Group’s payout ratio is currently 78.21%.

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.