Cresset Asset Management LLC Has $756,000 Holdings in Movado Group, Inc. (NYSE:MOV)

Cresset Asset Management LLC increased its stake in Movado Group, Inc. (NYSE:MOV) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,433 shares of the company’s stock after purchasing an additional 4,618 shares during the period. Cresset Asset Management LLC’s holdings in Movado Group were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC boosted its stake in Movado Group by 43.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 218,433 shares of the company’s stock worth $4,299,000 after purchasing an additional 66,511 shares during the period. Balyasny Asset Management L.P. bought a new stake in Movado Group during the 4th quarter worth about $707,000. Bank of America Corp DE lifted its position in Movado Group by 40.9% during the 4th quarter. Bank of America Corp DE now owns 36,545 shares of the company’s stock worth $719,000 after buying an additional 10,609 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Movado Group by 19.3% during the 4th quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company’s stock worth $10,813,000 after buying an additional 88,778 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Movado Group by 3.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,395 shares of the company’s stock worth $500,000 after buying an additional 848 shares in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Movado Group Stock Performance

Shares of MOV stock opened at $17.08 on Wednesday. The firm’s 50-day moving average is $15.53 and its 200-day moving average is $18.21. The stock has a market cap of $379.81 million, a price-to-earnings ratio of 16.42 and a beta of 1.17. Movado Group, Inc. has a 52-week low of $12.85 and a 52-week high of $27.80.

Movado Group (NYSE:MOV) last issued its earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. The company had revenue of $181.48 million for the quarter, compared to analysts’ expectations of $180.62 million. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. Sell-side analysts predict that Movado Group, Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Tuesday, April 22nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.20%. Movado Group’s payout ratio is 160.92%.

Analyst Ratings Changes

Several equities research analysts have commented on MOV shares. StockNews.com cut shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th. BWS Financial reissued a “buy” rating and set a $31.50 price target on shares of Movado Group in a research report on Monday, April 21st.

Movado Group Company Profile

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.