Paloma Partners Management Co Invests $550,000 in Movado Group, Inc. (NYSE:MOV)

Paloma Partners Management Co acquired a new position in shares of Movado Group, Inc. (NYSE:MOV) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 29,570 shares of the company’s stock, valued at approximately $550,000. Paloma Partners Management Co owned 0.13% of Movado Group as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Denali Advisors LLC grew its holdings in Movado Group by 101.0% during the 2nd quarter. Denali Advisors LLC now owns 193,800 shares of the company’s stock worth $4,818,000 after acquiring an additional 97,400 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Movado Group by 467.9% in the 2nd quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock valued at $2,463,000 after acquiring an additional 81,637 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Movado Group in the third quarter worth about $1,343,000. Sanctuary Advisors LLC acquired a new stake in Movado Group during the 2nd quarter valued at approximately $1,497,000. Finally, VELA Investment Management LLC acquired a new stake in Movado Group during the 3rd quarter worth about $955,000. 72.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Movado Group Stock Performance

MOV opened at $20.73 on Wednesday. Movado Group, Inc. has a one year low of $17.86 and a one year high of $31.44. The business’s 50 day moving average price is $19.23 and its 200 day moving average price is $22.48. The stock has a market capitalization of $460.62 million, a PE ratio of 13.04 and a beta of 1.04.

Movado Group (NYSE:MOV) last posted its quarterly earnings data 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). The company had revenue of $159.31 million for the quarter. Movado Group had a return on equity of 7.23% and a net margin of 5.45%. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, equities research analysts forecast that Movado Group, Inc. will post 0.95 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, September 16th. This represents a $1.40 dividend on an annualized basis and a yield of 6.75%. Movado Group’s dividend payout ratio (DPR) is presently 88.05%.

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.