Movado Group, Inc. (NYSE:MOV) Stock Position Raised by Jane Street Group LLC

Jane Street Group LLC lifted its stake in shares of Movado Group, Inc. (NYSE:MOV) by 347.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,112 shares of the company’s stock after purchasing an additional 236,847 shares during the period. Jane Street Group LLC owned approximately 1.37% of Movado Group worth $5,675,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of Movado Group in the third quarter worth about $314,000. Point72 DIFC Ltd purchased a new stake in shares of Movado Group in the 3rd quarter valued at approximately $78,000. Jacobs Levy Equity Management Inc. boosted its stake in Movado Group by 3.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 112,325 shares of the company’s stock worth $2,089,000 after purchasing an additional 4,162 shares during the period. Centiva Capital LP grew its position in Movado Group by 76.5% during the 3rd quarter. Centiva Capital LP now owns 18,380 shares of the company’s stock worth $342,000 after purchasing an additional 7,968 shares in the last quarter. Finally, ClearAlpha Technologies LP purchased a new position in Movado Group during the 3rd quarter worth approximately $257,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Movado Group Stock Performance

Movado Group stock opened at $20.89 on Monday. The firm’s 50 day moving average price is $19.58 and its two-hundred day moving average price is $22.10. The firm has a market cap of $464.22 million, a PE ratio of 20.09 and a beta of 1.04. Movado Group, Inc. has a twelve month low of $17.86 and a twelve month high of $31.44.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 annualized dividend and a dividend yield of 6.70%. Movado Group’s dividend payout ratio is 134.62%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a 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.