Metropolitan Life Insurance Co. NY raised its holdings in shares of Movado Group, Inc (NYSE:MOV) by 385.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,763 shares of the company’s stock after purchasing an additional 4,576 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Movado Group were worth $182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of MOV. Cutler Group LP bought a new stake in Movado Group during the 4th quarter valued at $28,000. NumerixS Investment Technologies Inc raised its holdings in Movado Group by 633.3% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the company’s stock valued at $68,000 after acquiring an additional 1,900 shares during the period. Pacer Advisors Inc. raised its holdings in Movado Group by 220.5% during the 3rd quarter. Pacer Advisors Inc. now owns 3,247 shares of the company’s stock valued at $136,000 after acquiring an additional 2,234 shares during the period. State of Alaska Department of Revenue raised its holdings in Movado Group by 6.9% during the 4th quarter. State of Alaska Department of Revenue now owns 5,515 shares of the company’s stock valued at $174,000 after acquiring an additional 356 shares during the period. Finally, Oregon Public Employees Retirement Fund bought a new stake in Movado Group during the 4th quarter valued at $198,000. 69.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of MOV stock opened at $33.14 on Wednesday. The company has a current ratio of 4.15, a quick ratio of 2.69 and a debt-to-equity ratio of 0.10. Movado Group, Inc has a 1 year low of $28.76 and a 1 year high of $53.72. The firm has a market cap of $757.06 million, a price-to-earnings ratio of 12.34 and a beta of 0.15.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. Movado Group’s payout ratio is 29.96%.
In other Movado Group news, CEO Efraim Grinberg sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $34.47, for a total transaction of $689,400.00. Following the sale, the chief executive officer now owns 204,829 shares of the company’s stock, valued at approximately $7,060,455.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 30.56% of the company’s stock.
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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