SG Americas Securities LLC Invests $122,000 in Movado Group, Inc. (NYSE:MOV)

SG Americas Securities LLC purchased a new position in Movado Group, Inc. (NYSE:MOV) in the 2nd quarter, HoldingsChannel reports. The firm purchased 4,919 shares of the company’s stock, valued at approximately $122,000.

Other large investors also recently added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new stake in shares of Movado Group in the 1st quarter worth about $3,265,000. Denali Advisors LLC grew its holdings 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 worth $2,692,000 after purchasing an additional 63,800 shares during the last quarter. Boston Partners grew its holdings in shares of Movado Group by 60.7% in the fourth quarter. Boston Partners now owns 130,961 shares of the company’s stock worth $3,948,000 after purchasing an additional 49,486 shares during the last quarter. GSA Capital Partners LLP increased its stake in Movado Group by 335.8% in the 1st quarter. GSA Capital Partners LLP now owns 29,502 shares of the company’s stock worth $824,000 after buying an additional 22,732 shares during the period. Finally, Jump Financial LLC bought a new stake in Movado Group during the 4th quarter valued at about $653,000. 72.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a “buy” rating and set a $41.00 target price on shares of Movado Group in a research report on Friday, May 31st.

Movado Group Stock Performance

NYSE MOV opened at $24.66 on Tuesday. The company’s 50-day simple moving average is $24.75 and its two-hundred day simple moving average is $26.15. Movado Group, Inc. has a one year low of $23.08 and a one year high of $31.44. The company has a market capitalization of $547.70 million, a price-to-earnings ratio of 13.78 and a beta of 1.04.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.13 earnings per share for the quarter. The company had revenue of $136.67 million for the quarter. Movado Group had a return on equity of 8.18% and a net margin of 6.09%. Equities analysts expect that Movado Group, Inc. will post 1.25 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.68%. Movado Group’s dividend payout ratio is currently 78.21%.

Insiders Place Their Bets

In other news, SVP Michelle Kennedy sold 1,245 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total value of $32,432.25. Following the transaction, the senior vice president now directly owns 12,202 shares of the company’s stock, valued at $317,862.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.11% of the stock is currently owned by insiders.

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.