Victory Capital Management Inc. Raises Stock Position in Movado Group, Inc. (NYSE:MOV)

Victory Capital Management Inc. increased its position in Movado Group, Inc. (NYSE:MOV - Free Report) by 131.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,835 shares of the company's stock after acquiring an additional 21,505 shares during the period. Victory Capital Management Inc. owned about 0.17% of Movado Group worth $745,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MOV. Point72 DIFC Ltd bought a new position in shares of Movado Group during the third quarter valued at $78,000. FMR LLC lifted its stake in 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 period. Intech Investment Management LLC purchased a new stake in shares of Movado Group during the 3rd quarter valued at about $200,000. Quantbot Technologies LP bought a new stake in shares of Movado Group in the third quarter worth approximately $244,000. Finally, ClearAlpha Technologies LP purchased a new position in shares of Movado Group during the third quarter valued at approximately $257,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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Movado Group Stock Down 3.0 %

MOV stock traded down $0.54 during trading on Tuesday, reaching $17.71. The company's stock had a trading volume of 149,722 shares, compared to its average volume of 185,718. The company has a market capitalization of $392.15 million, a P/E ratio of 17.03 and a beta of 0.96. The company's fifty day moving average is $19.05 and its 200-day moving average is $19.33. Movado Group, Inc. has a 1 year low of $17.24 and a 1 year high of $28.26.

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.