Arrowstreet Capital Limited Partnership Has $9.41 Million Stock Position in Movado Group, Inc. (NYSE:MOV)

Arrowstreet Capital Limited Partnership lifted its stake in Movado Group, Inc. (NYSE:MOV - Free Report) by 202.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 478,342 shares of the company's stock after acquiring an additional 320,103 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.16% of Movado Group worth $9,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MOV. KLP Kapitalforvaltning AS bought a new stake in Movado Group during the fourth quarter worth $47,000. Point72 DIFC Ltd acquired a new position in shares of Movado Group during the 3rd quarter worth about $78,000. FMR LLC raised its holdings in shares of Movado Group by 393.0% in the 3rd quarter. FMR LLC now owns 7,400 shares of the company's stock valued at $138,000 after purchasing an additional 5,899 shares during the period. Aigen Investment Management LP acquired a new stake in Movado Group in the 4th quarter valued at about $201,000. Finally, Quadrature Capital Ltd bought a new position in Movado Group during the third quarter worth about $314,000. Institutional investors own 72.08% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on MOV shares. StockNews.com lowered Movado Group from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. BWS Financial started coverage on Movado Group in a research note on Thursday, January 2nd. They issued a "buy" rating and a $31.50 price target on the stock.

Remove Ads

Movado Group Stock Performance

MOV traded down $0.29 on Friday, reaching $13.52. The company had a trading volume of 483,022 shares, compared to its average volume of 195,542. The stock has a market cap of $299.28 million, a P/E ratio of 13.00 and a beta of 0.92. Movado Group, Inc. has a fifty-two week low of $12.87 and a fifty-two week high of $27.80. The company's fifty day moving average is $17.84 and its 200 day moving average is $18.94.

About Movado Group

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.