Crossmark Global Holdings Inc. Acquires 4,828 Shares of Movado Group, Inc. (NYSE:MOV)

Crossmark Global Holdings Inc. raised its stake in shares of Movado Group, Inc. (NYSE:MOV) by 57.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,303 shares of the company’s stock after purchasing an additional 4,828 shares during the period. Crossmark Global Holdings Inc. owned 0.06% of Movado Group worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in Movado Group in the second quarter valued at $25,000. nVerses Capital LLC bought a new stake in Movado Group in the 3rd quarter valued at about $45,000. Allspring Global Investments Holdings LLC raised its stake in Movado Group by 1,246.9% during the 1st 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. SG Americas Securities LLC bought a new position in Movado Group in the second quarter worth approximately $122,000. Finally, EntryPoint Capital LLC grew its stake in Movado Group by 54.1% in the first quarter. EntryPoint Capital LLC now owns 5,293 shares of the company’s stock valued at $148,000 after acquiring an additional 1,859 shares during the period. 72.08% of the stock is owned by institutional investors and hedge funds.

Movado Group Price Performance

NYSE:MOV opened at $19.33 on Tuesday. Movado Group, Inc. has a one year low of $17.86 and a one year high of $31.44. The company has a market cap of $429.55 million, a PE ratio of 12.16 and a beta of 0.99. The firm has a 50-day moving average of $19.10 and a 200-day moving average of $22.96.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $159.31 million during the quarter. Movado Group had a return on equity of 7.23% and a net margin of 5.45%. During the same period in the previous year, the business posted $0.38 earnings per share. On average, equities research analysts expect that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 7.24%. Movado Group’s dividend payout ratio is currently 88.05%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a 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.