Paloma Partners Management Co Makes New Investment in Movado Group, Inc. (NYSE:MOV)

Paloma Partners Management Co purchased a new position in Movado Group, Inc. (NYSE:MOV - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,570 shares of the company's stock, valued at approximately $550,000. Paloma Partners Management Co owned 0.13% of Movado Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MOV. Price T Rowe Associates Inc. MD boosted its stake in Movado Group by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,719 shares of the company's stock worth $495,000 after purchasing an additional 779 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in 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 purchasing an additional 758 shares during the period. SG Americas Securities LLC bought a new position in Movado Group in the 2nd quarter worth approximately $122,000. Nisa Investment Advisors LLC boosted its stake in Movado Group by 59.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,247 shares of the company's stock worth $628,000 after purchasing an additional 9,457 shares during the period. Finally, Innealta Capital LLC bought a new position in Movado Group in the 2nd quarter worth approximately $25,000. 72.08% of the stock is currently owned by institutional investors.

Movado Group Stock Performance

Shares of MOV traded up $0.13 during mid-day trading on Wednesday, hitting $20.86. 339,403 shares of the stock were exchanged, compared to its average volume of 200,830. The company has a market cap of $463.51 million, a PE ratio of 13.04 and a beta of 1.04. Movado Group, Inc. has a 52-week low of $17.86 and a 52-week high of $31.44. The firm has a 50-day moving average of $19.27 and a two-hundred day moving average of $22.43.

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

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, September 16th. This represents a $1.40 annualized dividend and a yield of 6.71%. Movado Group's payout ratio is presently 88.05%.

Analysts Set New Price Targets

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

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.