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

Proficio Capital Partners LLC bought a new stake in Movado Group, Inc. (NYSE:MOV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 40,836 shares of the company’s stock, valued at approximately $804,000. Proficio Capital Partners LLC owned about 0.18% of Movado Group at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MOV. Point72 DIFC Ltd purchased a new stake in Movado Group during the third quarter worth $78,000. FMR LLC boosted its position in Movado Group by 393.0% during the third quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after purchasing an additional 5,899 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Movado Group during the third quarter worth $200,000. Quantbot Technologies LP purchased a new stake in Movado Group during the third quarter worth $244,000. Finally, ClearAlpha Technologies LP purchased a new stake in Movado Group during the third quarter worth $257,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MOV shares. StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. BWS Financial started 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.

Movado Group Trading Down 1.9 %

Movado Group stock opened at $17.63 on Friday. The firm has a market capitalization of $390.27 million, a P/E ratio of 16.95 and a beta of 0.96. The stock has a fifty day moving average price of $19.07 and a 200 day moving average price of $19.36. Movado Group, Inc. has a 52 week low of $17.24 and a 52 week 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.