New York State Teachers Retirement System Sells 900 Shares of Movado Group, Inc (NYSE:MOV)

New York State Teachers Retirement System reduced its position in shares of Movado Group, Inc (NYSE:MOV) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,836 shares of the company’s stock after selling 900 shares during the quarter. New York State Teachers Retirement System owned 0.23% of Movado Group worth $1,454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Movado Group by 6.2% in the 4th quarter. Bank of New York Mellon Corp now owns 290,411 shares of the company’s stock valued at $9,183,000 after purchasing an additional 16,883 shares during the period. Principal Financial Group Inc. boosted its stake in Movado Group by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 135,398 shares of the company’s stock worth $4,281,000 after buying an additional 1,301 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Movado Group by 1.5% in the fourth quarter. Two Sigma Advisers LP now owns 48,900 shares of the company’s stock worth $1,546,000 after buying an additional 700 shares in the last quarter. Bank of America Corp DE boosted its stake in Movado Group by 149.5% in the fourth quarter. Bank of America Corp DE now owns 17,617 shares of the company’s stock worth $557,000 after buying an additional 10,557 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Movado Group by 385.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,763 shares of the company’s stock worth $182,000 after buying an additional 4,576 shares in the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:MOV traded up $0.47 during trading on Tuesday, reaching $24.81. 811 shares of the company traded hands, compared to its average volume of 126,733. The stock has a market capitalization of $577.81 million, a price-to-earnings ratio of 9.30 and a beta of 0.44. Movado Group, Inc has a 52-week low of $23.78 and a 52-week high of $52.10. The company has a quick ratio of 2.40, a current ratio of 3.99 and a debt-to-equity ratio of 0.26. The firm’s fifty day simple moving average is $26.31.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). The firm had revenue of $146.55 million during the quarter, compared to the consensus estimate of $148.70 million. Movado Group had a return on equity of 12.43% and a net margin of 8.22%. Movado Group’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS. On average, research analysts forecast that Movado Group, Inc will post 2.75 EPS for the current year.

Several brokerages have issued reports on MOV. TheStreet lowered Movado Group from a “b-” rating to a “c+” rating in a research note on Monday, June 10th. Zacks Investment Research raised Movado Group from a “sell” rating to a “hold” rating in a research note on Tuesday.

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

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