Exchange Traded Concepts LLC Has $1.23 Million Stake in Movado Group, Inc. (NYSE:MOV)

Exchange Traded Concepts LLC lifted its stake in Movado Group, Inc. (NYSE:MOV) by 46.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,097 shares of the company’s stock after purchasing an additional 20,886 shares during the quarter. Exchange Traded Concepts LLC owned 0.30% of Movado Group worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its stake in Movado Group by 167.2% in the 3rd quarter. SG Americas Securities LLC now owns 13,145 shares of the company’s stock valued at $244,000 after buying an additional 8,226 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Movado Group during the second quarter worth $1,497,000. Dark Forest Capital Management LP purchased a new stake in shares of Movado Group during the second quarter worth $301,000. AQR Capital Management LLC boosted its position in Movado Group by 1.4% during the second quarter. AQR Capital Management LLC now owns 93,643 shares of the company’s stock valued at $2,328,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Movado Group by 467.9% in the 2nd quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock worth $2,463,000 after purchasing an additional 81,637 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Movado Group Trading Up 4.5 %

Movado Group stock opened at $19.63 on Thursday. Movado Group, Inc. has a 1-year low of $17.86 and a 1-year high of $31.44. The firm’s fifty day simple moving average is $20.99 and its 200-day simple moving average is $24.11. The company has a market capitalization of $435.98 million, a P/E ratio of 10.97 and a beta of 0.99.

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

Movado Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Monday, September 16th. Movado Group’s dividend payout ratio is currently 78.21%.

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.