Connor Clark & Lunn Investment Management Ltd. Has $1.45 Million Holdings in Movado Group, Inc (MOV)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Movado Group, Inc (NYSE:MOV) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,525 shares of the company’s stock after selling 5,695 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.15% of Movado Group worth $1,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Movado Group by 11.5% in the second quarter. BlackRock Inc. now owns 2,283,297 shares of the company’s stock worth $110,284,000 after purchasing an additional 234,854 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Movado Group in the second quarter worth about $10,329,000. Acadian Asset Management LLC grew its holdings in shares of Movado Group by 51.2% in the third quarter. Acadian Asset Management LLC now owns 622,486 shares of the company’s stock worth $26,081,000 after purchasing an additional 210,834 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Movado Group by 262.9% in the second quarter. Millennium Management LLC now owns 232,780 shares of the company’s stock worth $11,243,000 after purchasing an additional 168,641 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Movado Group by 73.4% in the second quarter. Renaissance Technologies LLC now owns 287,000 shares of the company’s stock worth $13,862,000 after purchasing an additional 121,500 shares during the last quarter. Institutional investors and hedge funds own 69.76% of the company’s stock.

In related news, Director Richard D. Isserman sold 3,970 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $40.64, for a total value of $161,340.80. Following the completion of the sale, the director now directly owns 8,342 shares of the company’s stock, valued at $339,018.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 30.56% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on MOV shares. Cowen upgraded shares of Movado Group from a “market perform” rating to an “outperform” rating in a report on Monday, October 8th. Zacks Investment Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating and set a $49.00 price target on the stock in a report on Tuesday, September 4th. Finally, Sidoti upgraded shares of Movado Group from a “neutral” rating to a “buy” rating in a report on Wednesday, August 22nd.

NYSE MOV opened at $33.20 on Friday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $960.91 million, a PE ratio of 16.60 and a beta of -0.05. Movado Group, Inc has a 12 month low of $28.15 and a 12 month high of $53.72.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, December 4th. The company reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.06. Movado Group had a net margin of 1.63% and a return on equity of 12.64%. The firm had revenue of $208.90 million for the quarter, compared to analysts’ expectations of $205.40 million. During the same period in the prior year, the business posted $1.04 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Movado Group, Inc will post 2.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, December 13th. Movado Group’s dividend payout ratio (DPR) is presently 40.00%.

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Movado Group Profile

Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.

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Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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