Movado Group, Inc. (NYSE:MOV) Stock Holdings Lifted by North Star Investment Management Corp.

North Star Investment Management Corp. lifted its stake in shares of Movado Group, Inc. (NYSE:MOV) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,025 shares of the company’s stock after acquiring an additional 14,300 shares during the quarter. North Star Investment Management Corp. owned 0.48% of Movado Group worth $1,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new position in shares of Movado Group in the fourth quarter worth approximately $47,000. GAMMA Investing LLC grew its position in Movado Group by 3,303.5% during the 1st quarter. GAMMA Investing LLC now owns 2,893 shares of the company’s stock worth $48,000 after purchasing an additional 2,808 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Movado Group by 1,597.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company’s stock valued at $57,000 after purchasing an additional 3,211 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Movado Group in the fourth quarter valued at $201,000. Finally, Two Sigma Advisers LP boosted its position in shares of Movado Group by 24.0% in the fourth quarter. Two Sigma Advisers LP now owns 12,400 shares of the company’s stock worth $244,000 after buying an additional 2,400 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Stock Down 3.6%

Shares of NYSE:MOV opened at $14.85 on Monday. The firm has a fifty day moving average of $15.23 and a two-hundred day moving average of $17.73. Movado Group, Inc. has a 12-month low of $12.85 and a 12-month high of $26.59. The firm has a market capitalization of $330.22 million, a P/E ratio of 14.28 and a beta of 1.21.

Movado Group (NYSE:MOV) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.31). Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The firm had revenue of $131.77 million for the quarter, compared to analyst estimates of $142.11 million. Equities research analysts expect that Movado Group, Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 9.43%. The ex-dividend date is Thursday, June 12th. Movado Group’s dividend payout ratio (DPR) is presently 175.00%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen lowered Movado Group from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. BWS Financial reiterated a “buy” rating and issued a $31.50 target price on shares of Movado Group in a report on Monday, June 2nd.

About Movado Group

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.