Dark Forest Capital Management LP Buys Shares of 12,113 Movado Group, Inc. (NYSE:MOV)

Dark Forest Capital Management LP purchased a new position in shares of Movado Group, Inc. (NYSE:MOV) in the 2nd quarter, Holdings Channel reports. The fund purchased 12,113 shares of the company’s stock, valued at approximately $301,000.

A number of other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Movado Group by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,906 shares of the company’s stock valued at $7,173,000 after purchasing an additional 11,876 shares during the period. Confluence Investment Management LLC bought a new position in Movado Group in the 1st quarter worth approximately $3,265,000. Allspring Global Investments Holdings LLC increased its position in Movado Group by 1,246.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock valued at $109,000 after acquiring an additional 3,616 shares during the period. Denali Advisors LLC raised its stake in Movado Group by 195.7% during the 1st quarter. Denali Advisors LLC now owns 96,400 shares of the company’s stock valued at $2,692,000 after acquiring an additional 63,800 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in Movado Group by 4.2% during the 1st quarter. North Star Investment Management Corp. now owns 74,775 shares of the company’s stock valued at $2,088,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Movado Group Trading Up 1.8 %

Shares of NYSE:MOV opened at $18.97 on Monday. The company has a 50 day moving average of $22.54 and a 200-day moving average of $24.81. The firm has a market cap of $421.32 million, a P/E ratio of 10.60 and a beta of 1.00. Movado Group, Inc. has a twelve month low of $17.86 and a twelve month high of $31.44.

Movado Group (NYSE:MOV) last released 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 firm 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 last year, the business earned $0.38 EPS. Equities research analysts forecast that Movado Group, Inc. will post 0.95 EPS for the current year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date is Monday, September 16th. Movado Group’s payout ratio is currently 78.21%.

Insider Buying and Selling

In other news, SVP Michelle Kennedy sold 1,245 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total transaction of $32,432.25. Following the completion of the transaction, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 30.11% of the stock is owned by corporate insiders.

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.