GSA Capital Partners LLP Cuts Stock Holdings in Movado Group, Inc. (NYSE:MOV)

GSA Capital Partners LLP lessened its holdings in Movado Group, Inc. (NYSE:MOV - Free Report) by 54.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 51,114 shares of the company's stock after selling 62,095 shares during the period. GSA Capital Partners LLP owned about 0.23% of Movado Group worth $951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Linden Thomas Advisory Services LLC raised its position in shares of Movado Group by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 47,992 shares of the company's stock worth $1,193,000 after acquiring an additional 758 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Movado Group by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,719 shares of the company's stock valued at $495,000 after buying an additional 779 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Movado Group by 7.8% in the 1st quarter. Quadrature Capital Ltd now owns 12,183 shares of the company's stock valued at $340,000 after buying an additional 880 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Movado Group in the 2nd quarter worth approximately $25,000. Finally, AQR Capital Management LLC lifted its position in Movado Group by 1.4% during the second quarter. AQR Capital Management LLC now owns 93,643 shares of the company's stock valued at $2,328,000 after acquiring an additional 1,255 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Movado Group Price Performance

NYSE:MOV traded up $0.22 during trading hours on Friday, hitting $19.64. 144,548 shares of the company were exchanged, compared to its average volume of 202,111. Movado Group, Inc. has a 52-week low of $17.86 and a 52-week high of $31.44. The stock has a market capitalization of $436.40 million, a price-to-earnings ratio of 12.35 and a beta of 0.99. The company's 50 day moving average price is $19.09 and its 200-day moving average price is $23.04.

Movado Group (NYSE:MOV - Get Free Report) last released its earnings results on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $159.31 million during the quarter. Movado Group had a net margin of 5.45% and a return on equity of 7.23%. During the same quarter last year, the firm posted $0.38 earnings per share. On average, equities analysts predict that Movado Group, Inc. will post 0.95 earnings per share for the current year.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.13%. The ex-dividend date was Monday, September 16th. Movado Group's dividend payout ratio (DPR) is currently 88.05%.

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.