Versor Investments LP Purchases Shares of 26,100 Movado Group Inc. $MOV

Versor Investments LP acquired a new position in shares of Movado Group Inc. (NYSE:MOV) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 26,100 shares of the company’s stock, valued at approximately $495,000.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. acquired a new stake in Movado Group during the third quarter worth $247,000. State of Wyoming lifted its holdings in shares of Movado Group by 69.8% during the 3rd quarter. State of Wyoming now owns 4,407 shares of the company’s stock worth $84,000 after acquiring an additional 1,812 shares during the period. AlphaQuest LLC boosted its position in shares of Movado Group by 392.6% during the 3rd quarter. AlphaQuest LLC now owns 13,202 shares of the company’s stock valued at $250,000 after acquiring an additional 10,522 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in Movado Group by 12.5% in the third quarter. Deprince Race & Zollo Inc. now owns 202,511 shares of the company’s stock valued at $3,842,000 after acquiring an additional 22,552 shares during the period. Finally, CWM LLC increased its stake in Movado Group by 28.2% in the third quarter. CWM LLC now owns 3,318 shares of the company’s stock valued at $63,000 after acquiring an additional 730 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. BWS Financial restated a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research note on Monday, February 2nd. Wall Street Zen raised Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Northland Securities initiated coverage on shares of Movado Group in a report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Movado Group has an average rating of “Moderate Buy” and a consensus price target of $30.75.

Insiders Place Their Bets

In other Movado Group news, SVP Michelle Kennedy sold 1,290 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total value of $26,948.10. Following the completion of the transaction, the senior vice president directly owned 27,857 shares of the company’s stock, valued at approximately $581,932.73. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 30.80% of the company’s stock.

Movado Group Price Performance

Shares of NYSE MOV opened at $24.05 on Friday. Movado Group Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $25.22. The firm has a market capitalization of $532.42 million, a P/E ratio of 24.79 and a beta of 0.95. The company’s 50 day simple moving average is $22.21 and its 200 day simple moving average is $19.66.

Movado Group (NYSE:MOV) last issued its earnings results on Tuesday, November 25th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.12). Movado Group had a net margin of 3.33% and a return on equity of 5.86%. The business had revenue of $186.13 million for the quarter, compared to the consensus estimate of $185.89 million. During the same quarter in the previous year, the firm posted $0.22 EPS. Sell-side analysts expect that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, December 8th. This represents a $1.40 annualized dividend and a yield of 5.8%. Movado Group’s payout ratio is currently 144.33%.

Movado Group Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.