Squarepoint Ops LLC Has $2.46 Million Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Squarepoint Ops LLC grew its holdings in Movado Group, Inc. (NYSE:MOV) by 467.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 99,083 shares of the company’s stock after buying an additional 81,637 shares during the quarter. Squarepoint Ops LLC owned approximately 0.45% of Movado Group worth $2,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Denali Advisors LLC increased its stake in shares of Movado Group by 195.7% in the first quarter. Denali Advisors LLC now owns 96,400 shares of the company’s stock valued at $2,692,000 after buying an additional 63,800 shares in the last quarter. Pacer Advisors Inc. increased its position in Movado Group by 3.9% in the second quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock worth $25,210,000 after purchasing an additional 38,038 shares during the period. American Century Companies Inc. increased its position in Movado Group by 14.8% in the second quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock worth $8,341,000 after purchasing an additional 43,316 shares during the period. PEAK6 Investments LLC increased its position in Movado Group by 158.5% in the first quarter. PEAK6 Investments LLC now owns 18,954 shares of the company’s stock worth $529,000 after purchasing an additional 11,623 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in Movado Group by 4.3% in the first quarter. Illinois Municipal Retirement Fund now owns 9,525 shares of the company’s stock worth $266,000 after purchasing an additional 391 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Movado Group

In other news, SVP Michelle Kennedy sold 1,245 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was 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 directly owns 12,202 shares in the company, valued at approximately $317,862.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 30.11% of the company’s stock.

Movado Group Stock Up 0.2 %

Shares of MOV stock opened at $19.38 on Thursday. The stock has a 50-day moving average price of $22.17 and a 200 day moving average price of $24.67. The firm has a market cap of $430.43 million, a price-to-earnings ratio of 10.83 and a beta of 0.99. Movado Group, Inc. has a 12 month low of $17.86 and a 12 month high of $31.44.

Movado Group (NYSE:MOV) last posted its earnings results on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $159.31 million for 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 prior year, the firm earned $0.38 EPS. Sell-side analysts predict that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 7.22%. Movado Group’s payout ratio is currently 78.21%.

Analyst Ratings Changes

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

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.