AlphaQuest LLC Acquires 39,340 Shares of Movado Group, Inc. (NYSE:MOV)

AlphaQuest LLC lifted its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 6,913.9% during the 4th quarter, Holdings Channel reports. The firm owned 39,909 shares of the company’s stock after purchasing an additional 39,340 shares during the period. AlphaQuest LLC’s holdings in Movado Group were worth $785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MOV. Crossmark Global Holdings Inc. increased its holdings in shares of Movado Group by 57.0% during the third quarter. Crossmark Global Holdings Inc. now owns 13,303 shares of the company’s stock worth $248,000 after purchasing an additional 4,828 shares during the period. Versor Investments LP increased its holdings in shares of Movado Group by 24.3% during the third quarter. Versor Investments LP now owns 17,881 shares of the company’s stock worth $333,000 after purchasing an additional 3,500 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Movado Group by 8.7% during the third quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock worth $304,000 after purchasing an additional 1,301 shares during the period. Royce & Associates LP increased its holdings in shares of Movado Group by 1.6% during the third quarter. Royce & Associates LP now owns 1,456,809 shares of the company’s stock worth $27,097,000 after purchasing an additional 22,414 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of Movado Group by 5.3% during the third quarter. Empowered Funds LLC now owns 97,722 shares of the company’s stock worth $1,818,000 after purchasing an additional 4,958 shares during the period. 72.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Movado Group Price Performance

Shares of NYSE:MOV opened at $18.02 on Wednesday. The company’s 50 day simple moving average is $19.34 and its 200 day simple moving average is $19.68. The stock has a market capitalization of $399.02 million, a price-to-earnings ratio of 17.33 and a beta of 0.96. Movado Group, Inc. has a 1 year low of $17.81 and a 1 year high of $28.26.

Movado Group 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.