SG Americas Securities LLC Buys 8,226 Shares of Movado Group, Inc. (NYSE:MOV)

SG Americas Securities LLC increased its position in Movado Group, Inc. (NYSE:MOV) by 167.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,145 shares of the company’s stock after buying an additional 8,226 shares during the quarter. SG Americas Securities LLC owned 0.06% of Movado Group worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Movado Group by 1,246.9% in the first 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. Denali Advisors LLC raised its stake in Movado Group by 195.7% during the first quarter. Denali Advisors LLC now owns 96,400 shares of the company’s stock valued at $2,692,000 after buying an additional 63,800 shares during the last quarter. North Star Investment Management Corp. grew its holdings in shares of Movado Group by 4.2% during the first quarter. North Star Investment Management Corp. now owns 74,775 shares of the company’s stock valued at $2,088,000 after buying an additional 3,000 shares during the last quarter. Prosperity Consulting Group LLC bought a new position in shares of Movado Group during the first quarter valued at $357,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Movado Group by 45.4% during the first quarter. BNP Paribas Financial Markets now owns 20,221 shares of the company’s stock valued at $565,000 after purchasing an additional 6,318 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

Movado Group Stock Down 2.4 %

NYSE:MOV opened at $19.32 on Tuesday. The business’s 50-day simple moving average is $20.82 and its two-hundred day simple moving average is $23.98. The stock has a market cap of $429.10 million, a PE ratio of 10.79 and a beta of 0.99. Movado Group, Inc. has a 52 week low of $17.86 and a 52 week high of $31.44.

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

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, September 16th. This represents a $1.40 annualized dividend and a yield of 7.25%. Movado Group’s payout ratio is 78.21%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a report on Friday, September 6th.

Movado Group 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.