Teton Advisors LLC Buys New Stake in Movado Group Inc. $MOV

Teton Advisors LLC bought a new position in Movado Group Inc. (NYSE:MOV) during the 3rd quarter, Holdings Channel reports. The fund bought 62,100 shares of the company’s stock, valued at approximately $1,178,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MOV. Goldman Sachs Group Inc. boosted its holdings in Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock valued at $11,226,000 after acquiring an additional 456,727 shares during the period. Brandes Investment Partners LP bought a new position in shares of Movado Group in the second quarter worth about $5,540,000. Russell Investments Group Ltd. lifted its position in shares of Movado Group by 426.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 176,015 shares of the company’s stock worth $2,684,000 after purchasing an additional 142,601 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Movado Group by 153.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 161,178 shares of the company’s stock worth $2,458,000 after purchasing an additional 97,566 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Movado Group by 14.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after purchasing an additional 80,109 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

Insider Activity at Movado Group

In other Movado Group news, SVP Michelle Kennedy sold 1,290 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total value of $26,948.10. Following the completion of the sale, the senior vice president owned 27,857 shares in the company, valued at approximately $581,932.73. This trade represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 30.80% of the company’s stock.

Movado Group Stock Performance

NYSE MOV opened at $23.60 on Friday. Movado Group Inc. has a twelve month low of $12.85 and a twelve month high of $25.85. The stock has a market cap of $522.50 million, a PE ratio of 24.33 and a beta of 0.93. The firm has a 50-day simple moving average of $23.39 and a 200 day simple moving average of $20.66.

Analyst Ratings Changes

A number of analysts have issued reports on MOV shares. BWS Financial reaffirmed a “buy” rating and issued a $31.50 target price on shares of Movado Group in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. Wall Street Zen raised Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Northland Securities initiated coverage on shares of Movado Group in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

About Movado Group

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.