Movado Group, Inc. (NYSE:MOV) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its holdings in Movado Group, Inc. (NYSE:MOV) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,091 shares of the company’s stock after purchasing an additional 1,994 shares during the period. Exchange Traded Concepts LLC owned about 0.31% of Movado Group worth $1,340,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Movado Group in the third quarter valued at approximately $45,000. Point72 DIFC Ltd acquired a new position in Movado Group during the third quarter worth $78,000. FMR LLC lifted its holdings in Movado Group by 393.0% during the third quarter. FMR LLC now owns 7,400 shares of the company’s stock valued at $138,000 after purchasing an additional 5,899 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Movado Group in the third quarter valued at about $187,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Movado Group during the third quarter worth about $200,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Stock Performance

Shares of MOV stock opened at $19.72 on Tuesday. Movado Group, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $29.45. The firm has a market capitalization of $436.69 million, a P/E ratio of 18.97 and a beta of 1.03. The stock’s fifty day moving average is $19.86 and its two-hundred day moving average is $20.85.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 7.10%. Movado Group’s dividend payout ratio is presently 134.62%.

Analysts Set New Price Targets

Separately, BWS Financial assumed coverage on Movado Group in a report on Thursday, January 2nd. They issued a “buy” rating and a $31.50 price objective on the stock.

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.