Linden Thomas Advisory Services LLC Trims Stock Position in Movado Group Inc. $MOV

Linden Thomas Advisory Services LLC cut its holdings in Movado Group Inc. (NYSE:MOV) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,918 shares of the company’s stock after selling 763 shares during the period. Linden Thomas Advisory Services LLC owned 0.21% of Movado Group worth $716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. VELA Investment Management LLC raised its position in Movado Group by 26.3% in the first quarter. VELA Investment Management LLC now owns 143,397 shares of the company’s stock valued at $2,398,000 after purchasing an additional 29,823 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Movado Group during the 1st quarter worth about $392,000. Royce & Associates LP raised its holdings in Movado Group by 10.3% in the 1st quarter. Royce & Associates LP now owns 1,628,031 shares of the company’s stock valued at $27,221,000 after buying an additional 152,677 shares during the period. GSA Capital Partners LLP purchased a new stake in Movado Group in the 1st quarter valued at about $1,426,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Movado Group in the first quarter valued at about $343,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BWS Financial reiterated a “buy” rating and set a $31.50 price target on shares of Movado Group in a research report on Friday, August 29th. Zacks Research lowered Movado Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings cut Movado Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $31.50.

Movado Group Stock Down 0.3%

Shares of MOV opened at $18.84 on Monday. The company has a market cap of $417.14 million, a P/E ratio of 24.47 and a beta of 1.22. Movado Group Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $22.20. The firm’s 50 day moving average price is $18.59 and its 200 day moving average price is $16.65.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Thursday, August 28th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.08). Movado Group had a return on equity of 5.45% and a net margin of 2.66%.The business had revenue of $161.83 million during the quarter, compared to analyst estimates of $156.84 million. Research analysts forecast that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Monday, September 8th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.4%. The ex-dividend date was Monday, September 8th. Movado Group’s payout ratio is 181.82%.

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.