Rhumbline Advisers Has $492,000 Position in Movado Group, Inc. (NYSE:MOV)

Rhumbline Advisers lessened its holdings in Movado Group, Inc. (NYSE:MOV) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,009 shares of the company’s stock after selling 5,958 shares during the period. Rhumbline Advisers owned approximately 0.11% of Movado Group worth $492,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royce & Associates LP increased its holdings in shares of Movado Group by 1.6% during the third quarter. Royce & Associates LP now owns 1,456,809 shares of the company’s stock worth $27,097,000 after buying an additional 22,414 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Movado Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock worth $6,607,000 after buying an additional 5,990 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Movado Group by 347.0% during the third quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock valued at $5,675,000 after purchasing an additional 236,847 shares during the last quarter. Confluence Investment Management LLC grew its stake in shares of Movado Group by 60.6% during the fourth quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock valued at $3,465,000 after purchasing an additional 66,422 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Movado Group by 3.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 112,325 shares of the company’s stock valued at $2,089,000 after purchasing an additional 4,162 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MOV. StockNews.com cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. BWS Financial assumed coverage on shares of Movado Group in a research note on Thursday, January 2nd. They set a “buy” rating and a $31.50 price target on the stock.

Movado Group Stock Performance

Shares of MOV stock opened at $18.34 on Friday. Movado Group, Inc. has a 52-week low of $17.83 and a 52-week high of $28.26. The stock has a market cap of $406.10 million, a PE ratio of 17.63 and a beta of 0.96. The firm’s 50 day moving average price is $19.41 and its two-hundred day moving average price is $19.80.

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.