Numerai GP LLC Purchases Shares of 161,889 Movado Group, Inc. (NYSE:MOV)

Numerai GP LLC purchased a new stake in shares of Movado Group, Inc. (NYSE:MOV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 161,889 shares of the company’s stock, valued at approximately $3,186,000. Movado Group makes up 0.9% of Numerai GP LLC’s investment portfolio, making the stock its 10th largest position. Numerai GP LLC owned approximately 0.73% of Movado Group at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MOV. Millennium Management LLC increased its holdings in shares of Movado Group by 10.2% in the fourth quarter. Millennium Management LLC now owns 443,179 shares of the company’s stock worth $8,722,000 after buying an additional 41,063 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Movado Group by 174.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 307,790 shares of the company’s stock worth $6,057,000 after buying an additional 195,465 shares during the period. Deutsche Bank AG increased its holdings in shares of Movado Group by 839.8% in the fourth quarter. Deutsche Bank AG now owns 91,500 shares of the company’s stock worth $1,801,000 after buying an additional 81,764 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Movado Group by 56.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 257,578 shares of the company’s stock worth $5,069,000 after buying an additional 93,388 shares during the period. Finally, Cresset Asset Management LLC increased its holdings in shares of Movado Group by 13.7% in the fourth quarter. Cresset Asset Management LLC now owns 38,433 shares of the company’s stock worth $756,000 after buying an additional 4,618 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Movado Group Price Performance

NYSE MOV opened at $16.71 on Tuesday. The stock has a market capitalization of $371.58 million, a PE ratio of 16.07 and a beta of 1.17. Movado Group, Inc. has a 1 year low of $12.85 and a 1 year high of $27.80. The business’s 50-day moving average is $15.56 and its 200 day moving average is $18.22.

Movado Group (NYSE:MOV) last posted its earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12. The company had revenue of $181.48 million for the quarter, compared to analysts’ expectations of $180.62 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. As a group, equities research analysts anticipate that Movado Group, Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.40 annualized dividend and a yield of 8.38%. Movado Group’s payout ratio is 160.92%.

Wall Street Analysts Forecast Growth

MOV has been the topic of several analyst reports. BWS Financial reiterated a “buy” rating and issued a $31.50 price objective on shares of Movado Group in a report on Monday, April 21st. StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th.

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.