Movado Group, Inc. (NYSE:MOV) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Movado Group, Inc. (NYSE:MOV) by 11.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219,502 shares of the company’s stock after purchasing an additional 22,578 shares during the quarter. Bank of New York Mellon Corp owned 0.99% of Movado Group worth $4,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. boosted 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 in the last quarter. Victory Capital Management Inc. boosted its holdings in Movado Group by 8.7% during the third quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock worth $304,000 after buying an additional 1,301 shares in the last quarter. Empowered Funds LLC boosted its holdings in Movado Group by 5.3% during the third quarter. Empowered Funds LLC now owns 97,722 shares of the company’s stock worth $1,818,000 after buying an additional 4,958 shares in the last quarter. Intech Investment Management LLC acquired a new position in Movado Group during the third quarter worth about $200,000. Finally, Landscape Capital Management L.L.C. increased its holdings in Movado Group by 50.5% in the third quarter. Landscape Capital Management L.L.C. now owns 42,377 shares of the company’s stock valued at $788,000 after buying an additional 14,221 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Price Performance

Shares of Movado Group stock opened at $17.88 on Wednesday. Movado Group, Inc. has a 1 year low of $17.24 and a 1 year high of $28.26. The business has a 50 day moving average price of $19.15 and a 200 day moving average price of $19.45. The company has a market capitalization of $395.92 million, a P/E ratio of 17.19 and a beta of 0.96.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MOV shares. BWS Financial began coverage on Movado Group in a research note on Thursday, January 2nd. They set a “buy” rating and a $31.50 price target on the stock. StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a research 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.