Dynamic Technology Lab Private Ltd Invests $284,000 in Movado Group, Inc. (NYSE:MOV)

Dynamic Technology Lab Private Ltd purchased a new stake in Movado Group, Inc. (NYSE:MOV) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,432 shares of the company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Royce & Associates LP increased its holdings in shares of Movado Group by 1.3% in the fourth quarter. Royce & Associates LP now owns 1,475,354 shares of the company’s stock valued at $29,035,000 after purchasing an additional 18,545 shares during the period. Vanguard Group Inc. grew its position in Movado Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 959,424 shares of the company’s stock valued at $18,881,000 after buying an additional 9,999 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Movado Group by 202.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company’s stock valued at $9,414,000 after buying an additional 320,103 shares during the period. American Century Companies Inc. raised its position in Movado Group by 2.5% during the 4th quarter. American Century Companies Inc. now owns 409,585 shares of the company’s stock worth $8,061,000 after buying an additional 9,851 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Movado Group by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 355,152 shares of the company’s stock worth $6,607,000 after acquiring an additional 5,990 shares during the period. 72.08% of the stock is owned by hedge funds and other institutional investors.

Movado Group Stock Performance

Shares of NYSE MOV opened at $13.77 on Friday. Movado Group, Inc. has a one year low of $12.93 and a one year high of $27.80. The firm has a market capitalization of $304.95 million, a P/E ratio of 13.24 and a beta of 0.92. The company’s fifty day moving average is $17.95 and its two-hundred day moving average is $18.97.

Analysts Set New Price Targets

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

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.