Inceptionr LLC Purchases Shares of 23,379 Movado Group, Inc. (NYSE:MOV)

Inceptionr LLC purchased a new stake in Movado Group, Inc. (NYSE:MOV) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 23,379 shares of the company’s stock, valued at approximately $460,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MOV. Crossmark Global Holdings Inc. grew its holdings in Movado Group by 57.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,303 shares of the company’s stock valued at $248,000 after buying an additional 4,828 shares during the period. Versor Investments LP grew its holdings in shares of Movado Group by 24.3% during the 3rd quarter. Versor Investments LP now owns 17,881 shares of the company’s stock worth $333,000 after purchasing an additional 3,500 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Movado Group by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock worth $304,000 after purchasing an additional 1,301 shares during the period. Royce & Associates LP grew its holdings in shares of Movado Group by 1.6% during the 3rd quarter. Royce & Associates LP now owns 1,456,809 shares of the company’s stock worth $27,097,000 after purchasing an additional 22,414 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Movado Group by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 97,722 shares of the company’s stock worth $1,818,000 after purchasing an additional 4,958 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analysts Set New Price Targets

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

Movado Group Stock Performance

Movado Group stock opened at $18.34 on Friday. The stock’s 50 day moving average price is $19.41 and its 200 day moving average price is $19.80. The firm has a market capitalization of $406.10 million, a PE ratio of 17.63 and a beta of 0.96. Movado Group, Inc. has a one year low of $17.83 and a one year 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.