Renaissance Technologies LLC Decreases Stake in Movado Group, Inc. (NYSE:MOV)

Renaissance Technologies LLC reduced its stake in Movado Group, Inc. (NYSE:MOV - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,098 shares of the company's stock after selling 43,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.80% of Movado Group worth $3,505,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Royce & Associates LP grew its holdings in shares of Movado Group by 1.3% in the fourth quarter. Royce & Associates LP now owns 1,475,354 shares of the company's stock valued at $29,035,000 after purchasing an additional 18,545 shares during the period. Vanguard Group Inc. boosted its holdings in Movado Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 959,424 shares of the company's stock valued at $18,881,000 after purchasing an additional 9,999 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Movado Group by 202.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock valued at $9,414,000 after buying an additional 320,103 shares during the period. American Century Companies Inc. increased its holdings in shares of Movado Group by 2.5% during the 4th quarter. American Century Companies Inc. now owns 409,585 shares of the company's stock worth $8,061,000 after buying an additional 9,851 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Movado Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 355,152 shares of the company's stock valued at $6,607,000 after buying an additional 5,990 shares during the period. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on MOV shares. BWS Financial restated a "buy" rating and issued a $31.50 target price on shares of Movado Group in a research report on Monday, April 21st. StockNews.com raised shares of Movado Group from a "hold" rating to a "buy" rating in a research report on Tuesday.

Movado Group Stock Down 0.9 %

NYSE:MOV traded down $0.13 during trading hours on Friday, reaching $13.93. 167,136 shares of the stock were exchanged, compared to its average volume of 199,836. Movado Group, Inc. has a twelve month low of $12.85 and a twelve month high of $27.80. The business has a 50-day moving average of $16.63 and a two-hundred day moving average of $18.56. The company has a market capitalization of $308.45 million, a price-to-earnings ratio of 13.39 and a beta of 0.92.

Movado Group (NYSE:MOV - Get Free Report) last announced its earnings results on Wednesday, April 16th. The company reported $0.51 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 return on equity of 5.38% and a net margin of 3.62%. On average, research analysts forecast that Movado Group, Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

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

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.