Movado Group (NYSE:MOV) Shares Gap Down to $26.52

Shares of Movado Group, Inc. (NYSE:MOV) gapped down before the market opened on Tuesday . The stock had previously closed at $26.52, but opened at $24.73. Movado Group shares last traded at $25.91, with a volume of 50,449 shares.

Analyst Ratings Changes

Separately, Benchmark restated a “buy” rating and set a $41.00 price target on shares of Movado Group in a research note on Wednesday.

Movado Group Trading Up 3.6 %

The company’s fifty day moving average is $27.88 and its 200 day moving average is $28.19. The company has a market capitalization of $610.73 million, a P/E ratio of 13.43 and a beta of 1.13.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Monday, April 8th. Movado Group’s dividend payout ratio (DPR) is presently 67.96%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MOV. US Bancorp DE boosted its holdings in Movado Group by 5.9% in the 1st quarter. US Bancorp DE now owns 8,157 shares of the company’s stock valued at $318,000 after purchasing an additional 453 shares during the period. Bank of Montreal Can bought a new position in Movado Group in the 1st quarter valued at $201,000. MetLife Investment Management LLC boosted its holdings in Movado Group by 47.6% in the 1st quarter. MetLife Investment Management LLC now owns 9,762 shares of the company’s stock valued at $381,000 after purchasing an additional 3,146 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Movado Group by 13.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,119 shares of the company’s stock valued at $551,000 after buying an additional 1,644 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Movado Group by 233.5% during the 1st quarter. LSV Asset Management now owns 94,244 shares of the company’s stock valued at $3,680,000 after buying an additional 65,983 shares in the last quarter. 72.08% of the stock is owned by institutional investors.

About Movado Group

Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.