Public Sector Pension Investment Board Acquires 1,941 Shares of Movado Group, Inc. (NYSE:MOV)

Public Sector Pension Investment Board boosted its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 6.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,448 shares of the company’s stock after buying an additional 1,941 shares during the quarter. Public Sector Pension Investment Board’s holdings in Movado Group were worth $856,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MOV. Pacer Advisors Inc. increased its holdings in shares of Movado Group by 3.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock valued at $25,210,000 after acquiring an additional 38,038 shares during the period. American Century Companies Inc. boosted its position in Movado Group by 14.8% during the second quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock valued at $8,341,000 after purchasing an additional 43,316 shares in the last quarter. Denali Advisors LLC grew its stake in Movado Group by 101.0% in 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 during the last quarter. Confluence Investment Management LLC bought a new position in Movado Group in the first quarter worth about $3,265,000. Finally, Empowered Funds LLC lifted its position in shares of Movado Group by 8.1% during the first quarter. Empowered Funds LLC now owns 86,104 shares of the company’s stock valued at $2,405,000 after buying an additional 6,475 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

Movado Group Price Performance

Movado Group stock opened at $19.38 on Thursday. The business has a fifty day moving average price of $22.17 and a 200-day moving average price of $24.67. Movado Group, Inc. has a 1-year low of $17.86 and a 1-year high of $31.44. The stock has a market capitalization of $430.43 million, a price-to-earnings ratio of 10.83 and a beta of 0.99.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $159.31 million for the quarter. Movado Group had a return on equity of 7.23% and a net margin of 5.45%. During the same quarter last year, the firm earned $0.38 EPS. On average, equities research analysts anticipate that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date of this dividend was Monday, September 16th. Movado Group’s dividend payout ratio (DPR) is presently 78.21%.

Insider Activity at Movado Group

In other Movado Group news, SVP Michelle Kennedy sold 1,245 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total transaction of $32,432.25. Following the sale, 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 SEC, which can be accessed through the SEC website. 30.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

About Movado Group

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.