Royce & Associates LP Has $27.10 Million Stock Position in Movado Group, Inc. (NYSE:MOV)

Royce & Associates LP lifted its position in shares of Movado Group, Inc. (NYSE:MOV) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,456,809 shares of the company’s stock after purchasing an additional 22,414 shares during the quarter. Royce & Associates LP owned approximately 0.07% of Movado Group worth $27,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Movado Group by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock worth $304,000 after buying an additional 1,301 shares during the period. Versor Investments LP raised its position in shares of Movado Group by 24.3% during the third quarter. Versor Investments LP now owns 17,881 shares of the company’s stock worth $333,000 after acquiring an additional 3,500 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Movado Group by 57.0% during the third quarter. Crossmark Global Holdings Inc. now owns 13,303 shares of the company’s stock worth $248,000 after purchasing an additional 4,828 shares during the period. VELA Investment Management LLC acquired a new position in Movado Group in the third quarter valued at about $955,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Movado Group by 9.6% during the third quarter. Nisa Investment Advisors LLC now owns 27,659 shares of the company’s stock worth $514,000 after buying an additional 2,412 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Trading Up 1.1 %

Movado Group stock opened at $19.64 on Friday. Movado Group, Inc. has a 12 month low of $17.86 and a 12 month high of $31.44. The stock’s 50 day moving average is $19.09 and its 200-day moving average is $23.04. The company has a market capitalization of $436.40 million, a price-to-earnings ratio of 12.35 and a beta of 0.99.

Movado Group (NYSE:MOV) last issued its earnings results on Thursday, September 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Movado Group had a net margin of 5.45% and a return on equity of 7.23%. The business had revenue of $159.31 million during the quarter. During the same quarter in the previous year, the company posted $0.38 earnings per share. As a group, equities research analysts predict that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given 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 presently 88.05%.

Analysts Set New Price Targets

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

Movado Group Company 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.