Sanctuary Advisors LLC Sells 15,935 Shares of Movado Group, Inc. (NYSE:MOV)

Sanctuary Advisors LLC reduced its stake in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 26.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 44,213 shares of the company's stock after selling 15,935 shares during the period. Sanctuary Advisors LLC owned about 0.20% of Movado Group worth $878,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOV. Jane Street Group LLC raised its stake in shares of Movado Group by 347.0% during the 3rd quarter. Jane Street Group LLC now owns 305,112 shares of the company's stock worth $5,675,000 after purchasing an additional 236,847 shares during the period. Confluence Investment Management LLC raised its position in Movado Group by 60.6% in the fourth quarter. Confluence Investment Management LLC now owns 176,057 shares of the company's stock worth $3,465,000 after acquiring an additional 66,422 shares during the period. Walleye Capital LLC purchased a new position in Movado Group in the third quarter valued at about $521,000. VELA Investment Management LLC bought a new position in shares of Movado Group during the 3rd quarter valued at approximately $955,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Movado Group during the 3rd quarter worth approximately $550,000. 72.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MOV. StockNews.com raised Movado Group from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. BWS Financial began coverage on Movado Group in a report on Thursday, January 2nd. They issued a "buy" rating and a $31.50 price objective for the company.

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Movado Group Price Performance

MOV stock traded down $0.48 during midday trading on Monday, reaching $18.83. The company had a trading volume of 128,967 shares, compared to its average volume of 150,821. The firm has a 50-day moving average price of $19.56 and a 200-day moving average price of $19.97. The company has a market capitalization of $416.95 million, a P/E ratio of 18.11 and a beta of 1.00. Movado Group, Inc. has a 1 year low of $17.86 and a 1 year high of $28.92.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.43%. Movado Group's dividend payout ratio (DPR) is 134.62%.

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.