Intech Investment Management LLC Invests $200,000 in Movado Group, Inc. (NYSE:MOV)

Intech Investment Management LLC purchased a new stake in Movado Group, Inc. (NYSE:MOV) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,774 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in Movado Group by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,719 shares of the company’s stock valued at $495,000 after buying an additional 779 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Movado Group in the second quarter valued at about $122,000. Nisa Investment Advisors LLC grew its holdings in shares of Movado Group by 59.9% in the second quarter. Nisa Investment Advisors LLC now owns 25,247 shares of the company’s stock valued at $628,000 after purchasing an additional 9,457 shares during the period. Innealta Capital LLC purchased a new stake in shares of Movado Group in the second quarter valued at about $25,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Movado Group during the second quarter worth about $211,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Stock Up 0.4 %

MOV stock opened at $20.88 on Friday. Movado Group, Inc. has a 52-week low of $17.86 and a 52-week high of $31.44. The stock has a market cap of $464.00 million, a price-to-earnings ratio of 13.13 and a beta of 1.04. The business has a fifty day moving average of $19.40 and a two-hundred day moving average of $22.37.

Movado Group (NYSE:MOV) last issued 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). Movado Group had a return on equity of 7.23% and a net margin of 5.45%. The business had revenue of $159.31 million for the quarter. During the same period last year, the firm earned $0.38 earnings per share. As a group, sell-side analysts anticipate that Movado Group, Inc. will post 0.95 EPS for the current year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Monday, December 16th. Movado Group’s dividend payout ratio is presently 88.05%.

Wall Street Analyst Weigh In

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