Teton Advisors Inc. Buys 50,000 Shares of Movado Group Inc. (MOV)
Teton Advisors Inc. increased its position in shares of Movado Group Inc. (NYSE:MOV) by 333.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,000 shares of the company’s stock after buying an additional 50,000 shares during the period. Teton Advisors Inc. owned about 0.28% of Movado Group worth $1,641,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Tennessee Treasury Department boosted its position in shares of Movado Group by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 15,318 shares of the company’s stock worth $382,000 after buying an additional 2,312 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in shares of Movado Group by 1.1% in the first quarter. Virginia Retirement Systems ET AL now owns 35,700 shares of the company’s stock worth $891,000 after buying an additional 400 shares during the last quarter. TFS Capital LLC bought a new position in shares of Movado Group during the first quarter worth about $1,117,000. Comerica Bank boosted its position in shares of Movado Group by 3.7% in the first quarter. Comerica Bank now owns 16,920 shares of the company’s stock worth $405,000 after buying an additional 602 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Movado Group by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 273,985 shares of the company’s stock worth $6,836,000 after buying an additional 12,356 shares during the last quarter. Institutional investors and hedge funds own 62.97% of the company’s stock.
Movado Group Inc. (NYSE MOV) opened at 22.45 on Friday. Movado Group Inc. has a 52 week low of $20.23 and a 52 week high of $31.95. The stock has a market cap of $515.90 million, a PE ratio of 18.79 and a beta of 0.35. The firm’s 50-day moving average price is $24.45 and its 200-day moving average price is $23.87.
Movado Group (NYSE:MOV) last posted its earnings results 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 business had revenue of $99.30 million for the quarter, compared to analyst estimates of $100.23 million. During the same quarter last year, the business earned $0.19 earnings per share. Movado Group’s revenue was down 13.0% on a year-over-year basis. Equities analysts predict that Movado Group Inc. will post $1.37 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Movado Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. ValuEngine cut Movado Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.00.
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 and department stores, as well as independent jewelers.
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