Ancora Advisors LLC Grows Stake in Movado Group, Inc. (NYSE:MOV)

Ancora Advisors LLC grew its holdings in Movado Group, Inc. (NYSE:MOV) by 13.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 48,825 shares of the company’s stock after buying an additional 5,696 shares during the quarter. Ancora Advisors LLC owned approximately 0.22% of Movado Group worth $1,364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Confluence Investment Management LLC purchased a new position in shares of Movado Group in the 1st quarter valued at approximately $3,265,000. Denali Advisors LLC lifted its stake in shares of Movado Group by 195.7% in the 1st quarter. Denali Advisors LLC now owns 96,400 shares of the company’s stock valued at $2,692,000 after purchasing an additional 63,800 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Movado Group by 49.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 157,963 shares of the company’s stock valued at $4,763,000 after purchasing an additional 51,995 shares during the period. Boston Partners lifted its stake in shares of Movado Group by 60.7% in the 4th quarter. Boston Partners now owns 130,961 shares of the company’s stock valued at $3,948,000 after purchasing an additional 49,486 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Movado Group by 335.8% in the 1st quarter. GSA Capital Partners LLP now owns 29,502 shares of the company’s stock valued at $824,000 after purchasing an additional 22,732 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed a “buy” rating and set a $41.00 price objective on shares of Movado Group in a research report on Friday, May 31st.

Insiders Place Their Bets

In other Movado Group news, SVP Michelle Kennedy sold 1,245 shares of Movado Group stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total value of $32,432.25. Following the completion of the sale, the senior vice president now owns 12,202 shares of the company’s stock, valued at approximately $317,862.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 30.11% of the company’s stock.

Movado Group Stock Up 0.1 %

MOV stock opened at $25.94 on Thursday. Movado Group, Inc. has a twelve month low of $23.92 and a twelve month high of $31.44. The firm has a market cap of $576.13 million, a PE ratio of 14.49 and a beta of 1.04. The business has a 50 day moving average of $25.49 and a 200 day moving average of $26.66.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.13 earnings per share for the quarter. Movado Group had a return on equity of 8.18% and a net margin of 6.09%. The company had revenue of $136.67 million during the quarter. On average, research analysts expect that Movado Group, Inc. will post 1.25 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date was Wednesday, June 12th. Movado Group’s payout ratio is 78.21%.

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.