VELA Investment Management LLC Grows Stock Holdings in Movado Group, Inc. (NYSE:MOV)

VELA Investment Management LLC grew its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 121.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 113,574 shares of the company’s stock after purchasing an additional 62,214 shares during the period. VELA Investment Management LLC’s holdings in Movado Group were worth $2,235,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new stake in Movado Group during the third quarter worth approximately $78,000. FMR LLC boosted its stake in shares of Movado Group by 393.0% in 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 during the period. Intech Investment Management LLC purchased a new position in shares of Movado Group in the third quarter valued at $200,000. Quantbot Technologies LP purchased a new position in shares of Movado Group in the third quarter valued at $244,000. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Movado Group by 57.0% in the third quarter. Crossmark Global Holdings Inc. now owns 13,303 shares of the company’s stock valued at $248,000 after purchasing an additional 4,828 shares during the period. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MOV has been the subject of several analyst reports. StockNews.com upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Monday. BWS Financial initiated coverage on shares of Movado Group in a research note on Thursday, January 2nd. They issued a “buy” rating and a $31.50 target price for the company.

Movado Group Price Performance

NYSE MOV opened at $19.59 on Friday. Movado Group, Inc. has a 12 month low of $17.86 and a 12 month high of $29.14. The company has a market capitalization of $433.67 million, a price-to-earnings ratio of 18.83 and a beta of 1.00. The company’s fifty day moving average price is $19.57 and its two-hundred day moving average price is $20.05.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders 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 dividend on an annualized basis and a yield of 7.15%. Movado Group’s dividend payout ratio (DPR) is 134.62%.

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.