Cornercap Investment Counsel Inc. bought a new position in shares of Movado Group Inc. (NYSE:MOV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,210 shares of the company’s stock, valued at approximately $581,000. Cornercap Investment Counsel Inc. owned about 0.09% of Movado Group at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted its position in Movado Group by 1.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,720 shares of the company’s stock worth $123,000 after buying an additional 60 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Movado Group by 85.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,923 shares of the company’s stock worth $128,000 after buying an additional 2,725 shares in the last quarter. BlackRock Inc. boosted its position in Movado Group by 557.1% in the second quarter. BlackRock Inc. now owns 6,407 shares of the company’s stock worth $139,000 after buying an additional 5,432 shares in the last quarter. Van Hulzen Asset Management LLC acquired a new position in Movado Group during the second quarter worth about $163,000. Finally, BlackRock Advisors LLC boosted its position in Movado Group by 1.0% in the second quarter. BlackRock Advisors LLC now owns 7,536 shares of the company’s stock worth $163,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.
Movado Group Inc. (NYSE:MOV) traded down 0.093% during mid-day trading on Wednesday, hitting $26.975. The stock had a trading volume of 19,236 shares. The firm has a market cap of $618.59 million, a PE ratio of 16.590 and a beta of 0.47. The company’s 50 day moving average price is $28.71 and its 200 day moving average price is $24.49. Movado Group Inc. has a 52 week low of $19.14 and a 52 week high of $31.95.
Movado Group (NYSE:MOV) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. The business had revenue of $179.80 million for the quarter, compared to analysts’ expectations of $174.32 million. Movado Group had a return on equity of 8.97% and a net margin of 6.67%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. Analysts anticipate that Movado Group Inc. will post $1.60 earnings per share for the current year.
A number of research firms have issued reports on MOV. Zacks Investment Research cut Movado Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Sidoti set a $34.00 price target on Movado Group and gave the stock a “buy” rating in a report on Tuesday, November 22nd. Finally, TheStreet upgraded Movado Group from a “hold” rating to a “buy” rating in a report on Wednesday, December 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.67.
Movado Group Company Profile
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, department stores and independent jewelers.
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