UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 21,258 Shares of Movado Group, Inc. (NYSE:MOV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Movado Group, Inc. (NYSE:MOV) by 56.3% during the third quarter, Holdings Channel reports. The fund owned 16,494 shares of the company’s stock after selling 21,258 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Movado Group were worth $307,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in Movado Group during the second quarter valued at about $25,000. nVerses Capital LLC purchased a new position in shares of Movado Group during the 3rd quarter valued at about $45,000. SG Americas Securities LLC bought a new position in shares of Movado Group during the 2nd quarter valued at approximately $122,000. Banque Cantonale Vaudoise increased its holdings in Movado Group by 117.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 5,581 shares of the company’s stock worth $139,000 after acquiring an additional 3,011 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Movado Group by 393.0% in the third quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after purchasing an additional 5,899 shares in the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Movado Group Price Performance

NYSE:MOV opened at $19.81 on Friday. The company has a market cap of $438.65 million, a price-to-earnings ratio of 19.05 and a beta of 1.04. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.18. The stock’s 50 day simple moving average is $19.70 and its two-hundred day simple moving average is $21.93.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date is Monday, December 16th. Movado Group’s payout ratio is 134.62%.

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.