Boston Partners Decreases Position in Movado Group, Inc. (NYSE:MOV)

Boston Partners decreased its position in Movado Group, Inc. (NYSE:MOV) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 107,868 shares of the company’s stock after selling 1,414 shares during the period. Boston Partners owned about 0.49% of Movado Group worth $2,123,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MOV. Victory Capital Management Inc. grew its stake in Movado Group by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock valued at $304,000 after acquiring an additional 1,301 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Movado Group by 3.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock valued at $1,340,000 after purchasing an additional 1,994 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Movado Group by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 60,148 shares of the company’s stock valued at $1,179,000 after purchasing an additional 2,551 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Movado Group by 3.8% in 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. Finally, Point72 DIFC Ltd purchased a new position in shares of Movado Group during the 3rd quarter worth approximately $78,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MOV. BWS Financial initiated coverage on Movado Group in a research note on Thursday, January 2nd. They issued a “buy” rating and a $31.50 target price on the stock. StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th.

Movado Group Price Performance

NYSE:MOV opened at $17.63 on Friday. The firm has a market cap of $390.27 million, a PE ratio of 16.95 and a beta of 0.96. The firm has a 50 day simple moving average of $19.07 and a 200-day simple moving average of $19.39. Movado Group, Inc. has a 1-year low of $17.24 and a 1-year high of $28.26.

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.