XTX Topco Ltd Acquires Shares of 8,686 Movado Group, Inc. (NYSE:MOV)

XTX Topco Ltd bought a new position in shares of Movado Group, Inc. (NYSE:MOV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,686 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MOV. Illinois Municipal Retirement Fund grew its holdings in Movado Group by 4.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 9,525 shares of the company’s stock worth $266,000 after acquiring an additional 391 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Movado Group by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 47,992 shares of the company’s stock valued at $1,193,000 after purchasing an additional 758 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Movado Group by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,719 shares of the company’s stock valued at $495,000 after purchasing an additional 779 shares in the last quarter. Quadrature Capital Ltd raised its position in Movado Group by 7.8% in the 1st quarter. Quadrature Capital Ltd now owns 12,183 shares of the company’s stock worth $340,000 after purchasing an additional 880 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Movado Group during the 2nd quarter worth $25,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Michelle Kennedy sold 1,245 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total value of $32,432.25. Following the completion of the sale, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 30.11% of the company’s stock.

Analysts Set New Price Targets

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

Movado Group Trading Up 1.8 %

Shares of NYSE MOV opened at $18.97 on Monday. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.44. The firm’s 50-day moving average is $22.54 and its 200-day moving average is $24.81. The firm has a market capitalization of $421.32 million, a PE ratio of 10.60 and a beta of 1.00.

Movado Group (NYSE:MOV) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) 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 in the previous year, the firm posted $0.38 earnings per share. As a group, equities research analysts anticipate that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.40 annualized dividend and a yield of 7.38%. Movado Group’s dividend payout ratio (DPR) is presently 78.21%.

Movado Group Company 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.