Oberweis Asset Management Inc. reduced its holdings in Movado Group, Inc (NYSE:MOV) by 47.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,292 shares of the company’s stock after selling 77,826 shares during the quarter. Oberweis Asset Management Inc. owned about 0.37% of Movado Group worth $2,729,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Movado Group by 6.8% in the 3rd quarter. BlackRock Inc. now owns 2,438,228 shares of the company’s stock valued at $102,162,000 after purchasing an additional 154,931 shares during the period. Vanguard Group Inc. raised its stake in Movado Group by 11.7% during the third quarter. Vanguard Group Inc. now owns 1,832,667 shares of the company’s stock valued at $76,789,000 after buying an additional 191,685 shares during the last quarter. Vanguard Group Inc raised its stake in Movado Group by 11.7% during the third quarter. Vanguard Group Inc now owns 1,832,667 shares of the company’s stock valued at $76,789,000 after buying an additional 191,685 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Movado Group by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,389,807 shares of the company’s stock valued at $43,945,000 after buying an additional 27,091 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Movado Group by 6.2% during the fourth quarter. Bank of New York Mellon Corp now owns 290,411 shares of the company’s stock valued at $9,183,000 after buying an additional 16,883 shares during the last quarter. Hedge funds and other institutional investors own 69.70% of the company’s stock.
Separately, Zacks Investment Research cut Movado Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th.
NYSE:MOV traded down $0.02 during trading hours on Friday, reaching $34.56. 41,573 shares of the company traded hands, compared to its average volume of 161,580. The stock has a market capitalization of $798.63 million, a price-to-earnings ratio of 17.28 and a beta of 0.14. Movado Group, Inc has a 1 year low of $28.76 and a 1 year high of $53.72. The company has a current ratio of 3.53, a quick ratio of 2.19 and a debt-to-equity ratio of 0.10.
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Movado Group Company Profile
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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