American Century Companies Inc. lifted its holdings in Movado Group, Inc (NYSE:MOV) by 251.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 152,855 shares of the company’s stock after buying an additional 109,376 shares during the period. American Century Companies Inc.’s holdings in Movado Group were worth $6,405,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in Movado Group in the 2nd quarter valued at about $19,878,000. BlackRock Inc. increased its position in Movado Group by 11.5% in the 2nd quarter. BlackRock Inc. now owns 2,283,297 shares of the company’s stock valued at $110,284,000 after buying an additional 234,854 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Movado Group in the 2nd quarter valued at about $10,329,000. Millennium Management LLC increased its position in Movado Group by 262.9% in the 2nd quarter. Millennium Management LLC now owns 232,780 shares of the company’s stock valued at $11,243,000 after buying an additional 168,641 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Movado Group by 73.4% in the 2nd quarter. Renaissance Technologies LLC now owns 287,000 shares of the company’s stock valued at $13,862,000 after buying an additional 121,500 shares in the last quarter. 69.18% of the stock is owned by hedge funds and other institutional investors.
MOV has been the subject of a number of research analyst reports. Cowen raised Movado Group from a “market perform” rating to an “outperform” rating in a research report on Monday, October 8th. Zacks Investment Research raised Movado Group from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a research report on Tuesday, September 4th. Finally, Sidoti raised Movado Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 22nd.
Movado Group (NYSE:MOV) last issued its earnings results on Wednesday, August 29th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Movado Group had a return on equity of 11.81% and a net margin of 0.12%. The business had revenue of $144.10 million during the quarter, compared to analyst estimates of $137.50 million. During the same period in the previous year, the company posted $0.43 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Movado Group, Inc will post 2.54 earnings per share for the current fiscal year.
In related news, Director Stephen I. Sadove purchased 6,000 shares of the business’s stock in a transaction on Friday, August 31st. The stock was acquired at an average price of $42.81 per share, for a total transaction of $256,860.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at $256,860. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard D. Isserman sold 3,970 shares of Movado Group stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $40.64, for a total value of $161,340.80. Following the transaction, the director now owns 8,342 shares of the company’s stock, valued at approximately $339,018.88. The disclosure for this sale can be found here. 30.56% of the stock is currently owned by insiders.
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Movado Group Company Profile
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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