Strs Ohio raised its position in Movado Group Inc. (NYSE:MOV) by 26.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,100 shares of the company’s stock after buying an additional 6,000 shares during the period. Strs Ohio owned 0.18% of Movado Group worth $734,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Movado Group during the fourth quarter worth $3,209,000. Teachers Advisors LLC boosted its position in shares of Movado Group by 11.1% in the fourth quarter. Teachers Advisors LLC now owns 34,936 shares of the company’s stock worth $1,004,000 after buying an additional 3,477 shares during the period. Bank of Montreal Can boosted its position in shares of Movado Group by 3.6% in the first quarter. Bank of Montreal Can now owns 7,732 shares of the company’s stock worth $193,000 after buying an additional 268 shares during the period. Nationwide Fund Advisors boosted its position in shares of Movado Group by 75.4% in the first quarter. Nationwide Fund Advisors now owns 44,252 shares of the company’s stock worth $1,104,000 after buying an additional 19,016 shares during the period. Finally, First Midwest Bank Trust Division boosted its position in shares of Movado Group by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 15,273 shares of the company’s stock worth $381,000 after buying an additional 487 shares during the period. 62.97% of the stock is owned by institutional investors and hedge funds.
Shares of Movado Group Inc. (MOV) opened at 21.80 on Tuesday. The firm has a market cap of $500.96 million, a price-to-earnings ratio of 18.24 and a beta of 0.35. Movado Group Inc. has a 12 month low of $20.23 and a 12 month high of $31.95. The company’s 50-day moving average is $24.35 and its 200-day moving average is $23.80.
Movado Group (NYSE:MOV) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.09. Movado Group had a net margin of 5.13% and a return on equity of 7.04%. The company had revenue of $99.30 million for the quarter, compared to analysts’ expectations of $100.23 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, equities research analysts forecast that Movado Group Inc. will post $1.37 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on MOV shares. Zacks Investment Research raised shares of Movado Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. ValuEngine cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.00.
About Movado Group
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
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