UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 21,258 Shares of Movado Group, Inc. (NYSE:MOV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Movado Group, Inc. (NYSE:MOV) by 56.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,494 shares of the company’s stock after selling 21,258 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.07% of Movado Group worth $307,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MOV. Denali Advisors LLC boosted its position in Movado Group by 101.0% during the 2nd 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 during the last quarter. Squarepoint Ops LLC raised its holdings in Movado Group by 467.9% in the 2nd 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. Assenagon Asset Management S.A. bought a new stake in shares of Movado Group in the third quarter valued at about $1,343,000. Sanctuary Advisors LLC acquired a new position in shares of Movado Group during the 2nd quarter worth approximately $1,497,000. Finally, VELA Investment Management LLC acquired a new position in Movado Group in the third quarter valued at about $955,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Movado Group Price Performance

NYSE MOV opened at $19.81 on Friday. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.18. The company has a fifty day moving average price of $19.70 and a 200-day moving average price of $21.93. The firm has a market cap of $438.65 million, a price-to-earnings ratio of 19.05 and a beta of 1.04.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend is Monday, December 16th. Movado Group’s payout ratio is 134.62%.

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.