Ballentine Partners LLC Buys Shares of 10,060 Movado Group, Inc. (NYSE:MOV)

Ballentine Partners LLC bought a new stake in shares of Movado Group, Inc. (NYSE:MOV) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,060 shares of the company’s stock, valued at approximately $187,000.

A number of other large investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in Movado Group by 3.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock valued at $25,210,000 after buying an additional 38,038 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Movado Group by 14.8% during the 2nd 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. Denali Advisors LLC lifted its stake in shares of Movado Group by 101.0% during the 2nd quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock worth $4,818,000 after purchasing an additional 97,400 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Movado Group by 467.9% during 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 period. Finally, AQR Capital Management LLC lifted its stake in shares of Movado Group by 1.4% during the 2nd quarter. AQR Capital Management LLC now owns 93,643 shares of the company’s stock worth $2,328,000 after purchasing an additional 1,255 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Trading Up 1.1 %

Shares of NYSE MOV opened at $18.97 on Wednesday. Movado Group, Inc. has a 12-month low of $17.86 and a 12-month high of $31.44. The company has a market cap of $421.55 million, a P/E ratio of 11.93 and a beta of 0.99. The stock has a fifty day moving average price of $20.10 and a 200 day moving average price of $23.58.

Movado Group (NYSE:MOV) last announced its quarterly 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). Movado Group had a net margin of 5.45% and a return on equity of 7.23%. The company had revenue of $159.31 million during the quarter. During the same period in the prior year, the company posted $0.38 EPS. On average, sell-side analysts forecast that Movado Group, Inc. will post 0.95 EPS for the current fiscal year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.40 annualized dividend and a yield of 7.38%. Movado Group’s dividend payout ratio is currently 88.05%.

Wall Street Analyst Weigh In

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

Movado Group Company 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.