Movado Group Inc. (MOV) Shares Bought by Foundry Partners LLC

Foundry Partners LLC boosted its holdings in Movado Group Inc. (NYSE:MOV) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 145,772 shares of the company’s stock after buying an additional 10,196 shares during the quarter. Foundry Partners LLC owned 0.89% of Movado Group worth $4,082,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Movado Group by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 1,557,766 shares of the company’s stock valued at $38,866,000 after purchasing an additional 67,655 shares during the period. FMR LLC grew its stake in shares of Movado Group by 62.5% during the 2nd quarter. FMR LLC now owns 588,709 shares of the company’s stock valued at $14,865,000 after purchasing an additional 226,510 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Movado Group during the 2nd quarter valued at about $13,810,000. Deprince Race & Zollo Inc. bought a new stake in shares of Movado Group during the 2nd quarter valued at about $10,666,000. Finally, Northern Trust Corp grew its stake in shares of Movado Group by 31.5% during the 2nd quarter. Northern Trust Corp now owns 400,216 shares of the company’s stock valued at $10,105,000 after purchasing an additional 95,967 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Shares of Movado Group Inc. (NYSE MOV) traded down $0.25 during trading on Thursday, reaching $27.45. The company’s stock had a trading volume of 75,400 shares, compared to its average volume of 137,651. Movado Group Inc. has a 12 month low of $20.50 and a 12 month high of $31.95. The company has a quick ratio of 3.20, a current ratio of 5.26 and a debt-to-equity ratio of 0.05. The company has a market cap of $636.27, a P/E ratio of 17.64 and a beta of 0.18.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, August 29th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. Movado Group had a return on equity of 7.74% and a net margin of 4.97%. The business had revenue of $128.80 million for the quarter, compared to the consensus estimate of $122.00 million. During the same quarter in the prior year, the company earned $0.27 EPS. The business’s revenue was up .5% compared to the same quarter last year. equities analysts anticipate that Movado Group Inc. will post 1.62 EPS for the current year.

Movado Group announced that its board has approved a share repurchase plan on Tuesday, August 29th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

In other Movado Group news, Director Nathan Leventhal sold 3,130 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $28.05, for a total value of $87,796.50. Following the completion of the sale, the director now directly owns 14,565 shares in the company, valued at $408,548.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Miriam Grinberg Phalen sold 2,504 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $27.38, for a total value of $68,559.52. Following the completion of the sale, the insider now owns 1,376 shares of the company’s stock, valued at $37,674.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,611 shares of company stock worth $412,201. 32.98% of the stock is owned by corporate insiders.

MOV has been the subject of a number of recent research reports. Zacks Investment Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research note on Saturday, September 2nd. BidaskClub downgraded Movado Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. KeyCorp reaffirmed a “hold” rating on shares of Movado Group in a report on Wednesday, October 11th. Finally, ValuEngine upgraded Movado Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Movado Group has a consensus rating of “Buy” and an average target price of $30.33.

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Movado Group 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 and department stores, as well as independent jewelers.

Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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