Pacer Advisors Inc. decreased its position in shares of Movado Group, Inc. (NYSE:MOV – Free Report) by 56.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 440,576 shares of the company’s stock after selling 573,497 shares during the period. Pacer Advisors Inc.’s holdings in Movado Group were worth $8,195,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of MOV. Linden Thomas Advisory Services LLC grew its holdings in Movado Group by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 47,992 shares of the company’s stock valued at $1,193,000 after purchasing an additional 758 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Movado Group by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,719 shares of the company’s stock valued at $495,000 after acquiring an additional 779 shares during the last quarter. Quadrature Capital Ltd increased its holdings in Movado Group by 7.8% during the 1st quarter. Quadrature Capital Ltd now owns 12,183 shares of the company’s stock valued at $340,000 after acquiring an additional 880 shares in the last quarter. Innealta Capital LLC acquired a new position in Movado Group during the second quarter worth about $25,000. Finally, AQR Capital Management LLC grew its position in shares of Movado Group by 1.4% in 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. Institutional investors and hedge funds own 72.08% of the company’s stock.
Movado Group Stock Performance
Shares of MOV opened at $19.60 on Friday. The company has a market capitalization of $435.51 million, a price-to-earnings ratio of 12.33 and a beta of 0.99. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.44. The company’s 50 day simple moving average is $19.14 and its 200 day simple moving average is $22.79.
Movado Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 7.14%. Movado Group’s dividend payout ratio is presently 88.05%.
Analysts Set New Price Targets
Separately, StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a report on Friday, September 6th.
Check Out Our Latest Report on MOV
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.
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