Nisa Investment Advisors LLC Decreases Position in Movado Group, Inc. (NYSE:MOV)

Nisa Investment Advisors LLC lowered its holdings in Movado Group, Inc. (NYSE:MOV) by 30.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,279 shares of the company’s stock after selling 8,380 shares during the period. Nisa Investment Advisors LLC owned approximately 0.09% of Movado Group worth $379,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MOV. Public Sector Pension Investment Board increased its stake in Movado Group by 6.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 34,448 shares of the company’s stock worth $856,000 after acquiring an additional 1,941 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Movado Group by 467.9% during 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. AQR Capital Management LLC grew its position in Movado Group by 1.4% during the 2nd quarter. AQR Capital Management LLC now owns 93,643 shares of the company’s stock worth $2,328,000 after acquiring an additional 1,255 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Movado Group in the 2nd quarter worth approximately $1,497,000. Finally, SG Americas Securities LLC lifted its position in Movado Group by 167.2% in the third quarter. SG Americas Securities LLC now owns 13,145 shares of the company’s stock valued at $244,000 after purchasing an additional 8,226 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on MOV. StockNews.com raised shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Tuesday. BWS Financial assumed coverage on Movado Group in a research note on Thursday, January 2nd. They issued a “buy” rating and a $31.50 price target on the stock.

Movado Group Stock Up 1.1 %

Shares of MOV opened at $19.92 on Thursday. Movado Group, Inc. has a twelve month low of $17.86 and a twelve month high of $29.45. The firm has a 50 day moving average of $19.89 and a 200 day moving average of $20.81. The company has a market capitalization of $440.98 million, a P/E ratio of 19.15 and a beta of 1.03.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a yield of 7.03%. Movado Group’s dividend payout ratio is presently 134.62%.

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.