Denali Advisors LLC Sells 4,084 Shares of Movado Group, Inc. (NYSE:MOV)

Denali Advisors LLC lowered its position in Movado Group, Inc. (NYSE:MOV) by 1.7% during the 4th quarter, HoldingsChannel reports. The fund owned 236,908 shares of the company’s stock after selling 4,084 shares during the period. Denali Advisors LLC’s holdings in Movado Group were worth $4,662,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Movado Group by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company’s stock worth $4,320,000 after purchasing an additional 22,578 shares during the period. Empowered Funds LLC grew its stake in shares of Movado Group by 5.1% during the fourth quarter. Empowered Funds LLC now owns 102,680 shares of the company’s stock valued at $2,021,000 after buying an additional 4,958 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Movado Group by 3.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock worth $1,340,000 after buying an additional 1,994 shares during the period. Confluence Investment Management LLC lifted its stake in shares of Movado Group by 60.6% during the 4th 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 last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of Movado Group by 4.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 60,148 shares of the company’s stock worth $1,179,000 after acquiring an additional 2,551 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

Movado Group Stock Performance

Movado Group stock opened at $20.13 on Wednesday. The company has a market capitalization of $445.69 million, a PE ratio of 19.35 and a beta of 1.00. The company has a 50 day moving average price of $19.56 and a 200-day moving average price of $20.06. Movado Group, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $29.14.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.96%. The ex-dividend date was Monday, December 16th. Movado Group’s dividend payout ratio is 134.62%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MOV shares. BWS Financial began coverage on Movado Group in a research report on Thursday, January 2nd. They issued a “buy” rating and a $31.50 price objective on the stock. StockNews.com upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a report on Monday.

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.