Renaissance Technologies LLC Cuts Stock Position in Movado Group, Inc. (NYSE:MOV)

Renaissance Technologies LLC cut its holdings in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,098 shares of the company's stock after selling 43,300 shares during the quarter. Renaissance Technologies LLC owned about 0.80% of Movado Group worth $3,505,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MOV. Proficio Capital Partners LLC acquired a new position in shares of Movado Group during the 4th quarter worth approximately $804,000. Confluence Investment Management LLC lifted its position in Movado Group by 60.6% during the fourth quarter. Confluence Investment Management LLC now owns 176,057 shares of the company's stock worth $3,465,000 after buying an additional 66,422 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Movado Group by 11.5% during the fourth quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company's stock worth $4,320,000 after buying an additional 22,578 shares in the last quarter. Royce & Associates LP boosted its stake in Movado Group by 1.3% during the fourth quarter. Royce & Associates LP now owns 1,475,354 shares of the company's stock worth $29,035,000 after buying an additional 18,545 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Movado Group by 131.7% in the 4th quarter. Victory Capital Management Inc. now owns 37,835 shares of the company's stock valued at $745,000 after buying an additional 21,505 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

Movado Group Trading Down 0.9 %

Movado Group stock traded down $0.13 during mid-day trading on Friday, hitting $13.93. The company's stock had a trading volume of 167,136 shares, compared to its average volume of 199,836. The stock's fifty day moving average is $16.63 and its two-hundred day moving average is $18.56. The firm has a market capitalization of $308.45 million, a PE ratio of 13.39 and a beta of 0.92. Movado Group, Inc. has a 1 year low of $12.85 and a 1 year high of $27.80.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.12. The business had revenue of $181.48 million during 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%. On average, equities analysts expect that Movado Group, Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Tuesday, April 22nd will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.05%. The ex-dividend date is Tuesday, April 22nd. Movado Group's dividend payout ratio (DPR) is 160.92%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MOV shares. BWS Financial reiterated a "buy" rating and set a $31.50 price target on shares of Movado Group in a report on Monday. StockNews.com raised shares of Movado Group from a "hold" rating to a "buy" rating in a research note on Tuesday.

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.