Movado Group, Inc. (NYSE:MOV) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 11.5% during the fourth quarter, HoldingsChannel reports. The firm owned 219,502 shares of the company’s stock after purchasing an additional 22,578 shares during the quarter. Bank of New York Mellon Corp’s holdings in Movado Group were worth $4,320,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Movado Group during the third quarter worth about $78,000. FMR LLC increased its stake in shares of Movado Group by 393.0% during the 3rd quarter. FMR LLC now owns 7,400 shares of the company’s stock valued at $138,000 after acquiring an additional 5,899 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Movado Group during the 3rd quarter valued at about $200,000. Quantbot Technologies LP purchased a new position in shares of Movado Group during the 3rd quarter worth about $244,000. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Movado Group by 57.0% in the third quarter. Crossmark Global Holdings Inc. now owns 13,303 shares of the company’s stock worth $248,000 after acquiring an additional 4,828 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Stock Down 1.2 %

NYSE MOV opened at $17.88 on Wednesday. Movado Group, Inc. has a fifty-two week low of $17.24 and a fifty-two week high of $28.26. The business has a 50 day moving average price of $19.15 and a two-hundred day moving average price of $19.45. The stock has a market cap of $395.92 million, a PE ratio of 17.19 and a beta of 0.96.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MOV shares. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. BWS Financial initiated coverage on Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price objective for the company.

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.