Crossmark Global Holdings Inc. Acquires 4,828 Shares of Movado Group, Inc. (NYSE:MOV)

Crossmark Global Holdings Inc. lifted its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 57.0% during the third quarter, HoldingsChannel reports. The firm owned 13,303 shares of the company’s stock after purchasing an additional 4,828 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Movado Group were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MOV. VELA Investment Management LLC bought a new stake in shares of Movado Group in the 3rd quarter worth approximately $955,000. Nisa Investment Advisors LLC increased its position in Movado Group by 9.6% in the third quarter. Nisa Investment Advisors LLC now owns 27,659 shares of the company’s stock worth $514,000 after buying an additional 2,412 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Movado Group in the third quarter valued at $187,000. Assenagon Asset Management S.A. purchased a new position in shares of Movado Group during the 3rd quarter valued at $1,343,000. Finally, nVerses Capital LLC bought a new position in shares of Movado Group during the 3rd quarter worth $45,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Movado Group Trading Down 1.6 %

MOV opened at $19.33 on Tuesday. The company has a 50 day moving average of $19.10 and a 200 day moving average of $22.96. 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 $429.55 million, a PE ratio of 12.16 and a beta of 0.99.

Movado Group (NYSE:MOV) last announced its quarterly 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 during the quarter. Movado Group had a net margin of 5.45% and a return on equity of 7.23%. During the same period in the previous year, the business posted $0.38 EPS. Research analysts forecast that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.24%. The ex-dividend date was Monday, September 16th. Movado Group’s payout ratio is 88.05%.

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.