AlphaQuest LLC Has $785,000 Stock Holdings in Movado Group, Inc. (NYSE:MOV)

AlphaQuest LLC lifted its holdings in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 6,913.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,909 shares of the company's stock after buying an additional 39,340 shares during the period. AlphaQuest LLC owned about 0.18% of Movado Group worth $785,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Inceptionr LLC acquired a new stake in Movado Group in the 4th quarter valued at about $460,000. Aigen Investment Management LP acquired a new stake in Movado Group in the 4th quarter valued at about $201,000. Proficio Capital Partners LLC acquired a new stake in Movado Group in the 4th quarter valued at about $804,000. Victory Capital Management Inc. lifted its stake in Movado Group by 131.7% in the 4th quarter. Victory Capital Management Inc. now owns 37,835 shares of the company's stock valued at $745,000 after purchasing an additional 21,505 shares during the last quarter. Finally, VELA Investment Management LLC lifted its stake in Movado Group by 121.1% in the 4th 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 last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Stock Up 0.5 %

Shares of MOV stock opened at $18.02 on Wednesday. The firm has a 50 day moving average price of $19.34 and a two-hundred day moving average price of $19.68. The company has a market capitalization of $399.02 million, a PE ratio of 17.33 and a beta of 0.96. Movado Group, Inc. has a 12-month low of $17.81 and a 12-month high of $28.26.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MOV. BWS Financial began coverage on shares of Movado Group in a research note on Thursday, January 2nd. They issued a "buy" rating and a $31.50 target price for the company. StockNews.com downgraded shares of Movado Group from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th.

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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.

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