Balyasny Asset Management L.P. Buys New Shares in Movado Group, Inc. (NYSE:MOV)

Balyasny Asset Management L.P. purchased a new position in shares of Movado Group, Inc. (NYSE:MOV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,925 shares of the company’s stock, valued at approximately $707,000. Balyasny Asset Management L.P. owned approximately 0.16% of Movado Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of Movado Group during the 4th quarter worth approximately $47,000. Aigen Investment Management LP bought a new position in Movado Group during the fourth quarter worth $201,000. Wells Fargo & Company MN boosted its position in Movado Group by 18.4% during the fourth quarter. Wells Fargo & Company MN now owns 14,372 shares of the company’s stock worth $283,000 after purchasing an additional 2,234 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Movado Group in the fourth quarter valued at about $284,000. Finally, Inceptionr LLC bought a new position in shares of Movado Group in the fourth quarter valued at about $460,000. 72.08% of the stock is owned by institutional investors.

Movado Group Price Performance

MOV opened at $17.06 on Thursday. The business has a fifty day simple moving average of $15.50 and a 200 day simple moving average of $18.21. The company has a market capitalization of $379.36 million, a PE ratio of 16.40 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.

Movado Group (NYSE:MOV) last announced its earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. The company had revenue of $181.48 million during the quarter, compared to analysts’ expectations of $180.62 million. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. Equities analysts anticipate 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 was paid on Tuesday, May 6th. Stockholders of record on Tuesday, April 22nd were issued 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 dividend yield of 8.21%. Movado Group’s dividend payout ratio is presently 160.92%.

Wall Street Analysts Forecast Growth

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

Movado Group Profile

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.