Walleye Capital LLC Invests $521,000 in Movado Group, Inc. (NYSE:MOV)

Walleye Capital LLC acquired a new stake in shares of Movado Group, Inc. (NYSE:MOV - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,004 shares of the company's stock, valued at approximately $521,000. Walleye Capital LLC owned about 0.13% of Movado Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MOV. Royce & Associates LP grew its holdings in Movado Group by 1.6% during the third quarter. Royce & Associates LP now owns 1,456,809 shares of the company's stock valued at $27,097,000 after purchasing an additional 22,414 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Movado Group by 3.9% in the second quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company's stock worth $25,210,000 after acquiring an additional 38,038 shares during the period. American Century Companies Inc. lifted its position in shares of Movado Group by 14.8% in the second quarter. American Century Companies Inc. now owns 335,533 shares of the company's stock worth $8,341,000 after buying an additional 43,316 shares in the last quarter. Denali Advisors LLC lifted its position in shares of Movado Group by 101.0% in the second quarter. Denali Advisors LLC now owns 193,800 shares of the company's stock worth $4,818,000 after buying an additional 97,400 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Movado Group by 467.9% in the second quarter. Squarepoint Ops LLC now owns 99,083 shares of the company's stock worth $2,463,000 after buying an additional 81,637 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

Movado Group Trading Down 0.5 %

Shares of NYSE:MOV traded down $0.09 during mid-day trading on Monday, reaching $20.77. The stock had a trading volume of 183,826 shares, compared to its average volume of 201,350. The company has a market cap of $461.44 million, a P/E ratio of 19.97 and a beta of 1.04. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $31.44. The business's 50 day moving average price is $19.45 and its 200 day moving average price is $22.27.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.03). Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The company had revenue of $159.31 million for the quarter. During the same quarter in the previous year, the business posted $0.38 EPS. Analysts predict that Movado Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a yield of 6.74%. Movado Group's dividend payout ratio (DPR) is presently 134.62%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Movado Group from a "buy" rating to a "hold" rating in a research report on Friday, September 6th.

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.