Proficio Capital Partners LLC Buys Shares of 40,836 Movado Group, Inc. (NYSE:MOV)

Proficio Capital Partners LLC purchased a new position in shares of Movado Group, Inc. (NYSE:MOV - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 40,836 shares of the company's stock, valued at approximately $804,000. Proficio Capital Partners LLC owned approximately 0.18% of Movado Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MOV. Victory Capital Management Inc. grew its position in shares of Movado Group by 8.7% in the third quarter. Victory Capital Management Inc. now owns 16,330 shares of the company's stock valued at $304,000 after purchasing an additional 1,301 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Movado Group by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company's stock valued at $1,340,000 after buying an additional 1,994 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Movado Group by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 60,148 shares of the company's stock worth $1,179,000 after acquiring an additional 2,551 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Movado Group by 3.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 112,325 shares of the company's stock worth $2,089,000 after acquiring an additional 4,162 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of Movado Group during the 3rd quarter worth $78,000. 72.08% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com cut 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 shares of Movado Group in a research note on Thursday, January 2nd. They issued a "buy" rating and a $31.50 price target for the company.

Movado Group Stock Performance

Shares of Movado Group stock traded down $0.06 during trading hours on Wednesday, hitting $17.68. The company's stock had a trading volume of 178,993 shares, compared to its average volume of 185,368. The firm has a fifty day moving average of $19.03 and a 200-day moving average of $19.33. The stock has a market cap of $391.49 million, a price-to-earnings ratio of 17.00 and a beta of 0.96. Movado Group, Inc. has a twelve month low of $17.24 and a twelve month high of $28.26.

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.