Bank of New York Mellon Corp Acquires 22,578 Shares of Movado Group, Inc. (NYSE:MOV)

Bank of New York Mellon Corp increased its holdings in shares of Movado Group, Inc. (NYSE:MOV - Free Report) by 11.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 219,502 shares of the company's stock after purchasing an additional 22,578 shares during the period. Bank of New York Mellon Corp owned approximately 0.99% of Movado Group worth $4,320,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MOV. Crossmark Global Holdings Inc. lifted its position in shares of Movado Group by 57.0% during the 3rd 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 last quarter. Victory Capital Management Inc. raised its holdings in Movado Group by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 16,330 shares of the company's stock valued at $304,000 after acquiring an additional 1,301 shares in the last quarter. Empowered Funds LLC raised its holdings in Movado Group by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 97,722 shares of the company's stock valued at $1,818,000 after acquiring an additional 4,958 shares in the last quarter. Intech Investment Management LLC acquired a new position in Movado Group in the 3rd quarter valued at approximately $200,000. Finally, Landscape Capital Management L.L.C. raised its holdings in Movado Group by 50.5% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 42,377 shares of the company's stock valued at $788,000 after acquiring an additional 14,221 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company's stock.

Remove Ads

Movado Group Price Performance

Shares of MOV traded down $0.35 during mid-day trading on Friday, reaching $17.63. The company had a trading volume of 266,483 shares, compared to its average volume of 185,708. Movado Group, Inc. has a twelve month low of $17.24 and a twelve month high of $28.26. The company's 50-day moving average is $19.07 and its 200-day moving average is $19.39. The company has a market capitalization of $390.27 million, a P/E ratio of 16.95 and a beta of 0.96.

Wall Street Analysts Forecast Growth

MOV has been the subject of several recent research reports. BWS Financial initiated coverage on Movado Group in a report on Thursday, January 2nd. They issued a "buy" rating and a $31.50 price target for the company. StockNews.com cut Movado Group from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th.

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.