72,229 Shares in Movado Group, Inc. (NYSE:MOV) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in shares of Movado Group, Inc. (NYSE:MOV) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 72,229 shares of the company’s stock, valued at approximately $1,343,000. Assenagon Asset Management S.A. owned about 0.33% of Movado Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in Movado Group during the 3rd quarter worth about $45,000. Exchange Traded Concepts LLC raised its position in Movado Group by 46.2% in the third quarter. Exchange Traded Concepts LLC now owns 66,097 shares of the company’s stock valued at $1,229,000 after purchasing an additional 20,886 shares during the period. SG Americas Securities LLC grew its stake in shares of Movado Group by 167.2% in the third quarter. SG Americas Securities LLC now owns 13,145 shares of the company’s stock worth $244,000 after acquiring an additional 8,226 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Movado Group in the second quarter worth $1,497,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Movado Group during the second quarter worth $301,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Movado Group Stock Performance

Shares of NYSE MOV opened at $18.55 on Friday. The firm has a market cap of $412.18 million, a P/E ratio of 11.67 and a beta of 0.99. 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 price is $19.76 and its 200 day moving average price is $23.47.

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

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date was Monday, September 16th. Movado Group’s payout ratio is 88.05%.

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.