Victory Capital Management Inc. Boosts Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Victory Capital Management Inc. increased its position in Movado Group, Inc. (NYSE:MOV) by 131.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,835 shares of the company’s stock after buying an additional 21,505 shares during the period. Victory Capital Management Inc.’s holdings in Movado Group were worth $745,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MOV. Geode Capital Management LLC raised its holdings in shares of Movado Group by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock worth $6,607,000 after purchasing an additional 5,990 shares during the period. Jane Street Group LLC raised its stake in shares of Movado Group by 347.0% in the 3rd quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock valued at $5,675,000 after acquiring an additional 236,847 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Movado Group by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 219,502 shares of the company’s stock valued at $4,320,000 after acquiring an additional 22,578 shares during the period. Confluence Investment Management LLC raised its stake in shares of Movado Group by 60.6% in the 4th quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock valued at $3,465,000 after acquiring an additional 66,422 shares during the period. Finally, VELA Investment Management LLC raised its position in Movado Group by 121.1% in the fourth quarter. VELA Investment Management LLC now owns 113,574 shares of the company’s stock valued at $2,235,000 after purchasing an additional 62,214 shares during the period. 72.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on MOV shares. BWS Financial assumed coverage on Movado Group in a research report on Thursday, January 2nd. They issued a “buy” rating and a $31.50 price objective on the stock. StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th.

Movado Group Price Performance

Movado Group stock opened at $17.63 on Friday. Movado Group, Inc. has a 12-month low of $17.24 and a 12-month high of $28.26. The company has a market capitalization of $390.27 million, a price-to-earnings ratio of 16.95 and a beta of 0.96. The firm’s fifty day moving average price is $19.07 and its 200 day moving average price is $19.39.

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.