nVerses Capital LLC Takes Position in Movado Group, Inc. (NYSE:MOV)

nVerses Capital LLC acquired a new position in shares of Movado Group, Inc. (NYSE:MOV) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,400 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. boosted its position in shares of Movado Group by 3.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock valued at $25,210,000 after purchasing an additional 38,038 shares during the period. American Century Companies Inc. boosted its holdings in shares of Movado Group by 14.8% in the second quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock worth $8,341,000 after buying an additional 43,316 shares during the period. Denali Advisors LLC increased its position in shares of Movado Group by 101.0% in the second quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock worth $4,818,000 after acquiring an additional 97,400 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Movado Group by 467.9% during the second quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock valued at $2,463,000 after acquiring an additional 81,637 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Movado Group by 1.4% in the 2nd quarter. AQR Capital Management LLC now owns 93,643 shares of the company’s stock valued at $2,328,000 after acquiring an additional 1,255 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Trading Down 3.2 %

NYSE:MOV opened at $18.71 on Wednesday. The business’s fifty day moving average price is $20.74 and its 200 day moving average price is $23.92. The firm has a market capitalization of $415.55 million, a price-to-earnings ratio of 10.45 and a beta of 0.99. Movado Group, Inc. has a 1-year low of $17.86 and a 1-year high of $31.44.

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

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.48%. The ex-dividend date of this dividend was Monday, September 16th. Movado Group’s dividend payout ratio is currently 78.21%.

Wall Street Analysts Forecast Growth

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

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.