Pacer Advisors Inc. Grows Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Pacer Advisors Inc. lifted its position in shares of Movado Group, Inc. (NYSE:MOV) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,014,073 shares of the company’s stock after purchasing an additional 38,038 shares during the period. Pacer Advisors Inc.’s holdings in Movado Group were worth $25,210,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MOV. Confluence Investment Management LLC bought a new position in Movado Group in the first quarter worth about $3,265,000. Denali Advisors LLC boosted its position in shares of Movado Group by 101.0% during the second quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock valued at $4,818,000 after purchasing an additional 97,400 shares in the last quarter. American Century Companies Inc. grew its stake in Movado Group by 14.8% in the second quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock worth $8,341,000 after purchasing an additional 43,316 shares during the period. Quest Partners LLC bought a new position in Movado Group in the second quarter worth $689,000. Finally, GSA Capital Partners LLP raised its holdings in Movado Group by 335.8% in the first quarter. GSA Capital Partners LLP now owns 29,502 shares of the company’s stock worth $824,000 after purchasing an additional 22,732 shares in the last quarter. 72.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MOV has been the topic of a number of recent research reports. StockNews.com downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Benchmark restated a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a report on Friday, May 31st.

Insider Buying and Selling

In other Movado Group news, SVP Michelle Kennedy sold 1,245 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $26.05, for a total transaction of $32,432.25. Following the transaction, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 30.11% of the stock is owned by corporate insiders.

Movado Group Trading Down 0.2 %

Shares of NYSE:MOV opened at $19.86 on Monday. The stock has a fifty day simple moving average of $23.21 and a two-hundred day simple moving average of $25.12. Movado Group, Inc. has a 12-month low of $18.02 and a 12-month high of $31.44. The stock has a market capitalization of $441.09 million, a price-to-earnings ratio of 11.09 and a beta of 1.00.

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

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 7.05%. Movado Group’s dividend payout ratio (DPR) is presently 78.21%.

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.