Gamco Investors INC. ET AL lifted its holdings in Movado Group, Inc (NYSE:MOV) by 20.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,100 shares of the company’s stock after acquiring an additional 15,350 shares during the period. Gamco Investors INC. ET AL owned approximately 0.40% of Movado Group worth $2,290,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its position in Movado Group by 56.0% during the second quarter. Janus Henderson Group PLC now owns 1,057,217 shares of the company’s stock worth $28,545,000 after purchasing an additional 379,589 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in Movado Group by 126.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 520,000 shares of the company’s stock worth $14,040,000 after purchasing an additional 290,000 shares during the period. Tributary Capital Management LLC lifted its position in Movado Group by 3.7% during the third quarter. Tributary Capital Management LLC now owns 507,906 shares of the company’s stock worth $12,627,000 after purchasing an additional 18,234 shares during the period. Northern Trust Corp lifted its position in Movado Group by 0.8% during the second quarter. Northern Trust Corp now owns 458,665 shares of the company’s stock worth $12,384,000 after purchasing an additional 3,631 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Movado Group by 14.8% during the second quarter. JPMorgan Chase & Co. now owns 296,489 shares of the company’s stock worth $7,902,000 after purchasing an additional 38,210 shares during the period. Institutional investors and hedge funds own 70.12% of the company’s stock.
Several research firms recently weighed in on MOV. Cowen cut shares of Movado Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $40.00 to $22.00 in a research report on Thursday, August 29th. Zacks Investment Research cut shares of Movado Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 5th.
MOV traded down $0.34 on Friday, hitting $26.05. 134,876 shares of the stock were exchanged, compared to its average volume of 206,570. Movado Group, Inc has a 12 month low of $18.78 and a 12 month high of $44.39. The business has a 50-day moving average of $25.11 and a two-hundred day moving average of $26.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.64 and a quick ratio of 2.05. The firm has a market capitalization of $657.74 million, a price-to-earnings ratio of 9.76 and a beta of 0.53.
Movado Group (NYSE:MOV) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.13). Movado Group had a return on equity of 11.74% and a net margin of 9.23%. The firm had revenue of $157.80 million for the quarter, compared to the consensus estimate of $167.00 million. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. Equities research analysts expect that Movado Group, Inc will post 2.27 earnings per share for the current fiscal year.
In related news, Director Maurice S. Reznik bought 3,002 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $21.25 per share, with a total value of $63,792.50. Following the completion of the acquisition, the director now owns 35,732 shares of the company’s stock, valued at $759,305. The purchase was disclosed in a document filed with the SEC, which is available through this link. 29.92% of the stock is currently owned by corporate insiders.
About Movado Group
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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