Teton Advisors LLC Takes Position in Movado Group Inc. $MOV

Teton Advisors LLC purchased a new position in Movado Group Inc. (NYSE:MOV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 62,100 shares of the company’s stock, valued at approximately $1,178,000. Teton Advisors LLC owned about 0.28% of Movado Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC boosted its position in Movado Group by 42.9% during the third quarter. Barclays PLC now owns 59,556 shares of the company’s stock valued at $1,130,000 after purchasing an additional 17,881 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Movado Group in the 3rd quarter worth about $388,000. Vanguard Group Inc. raised its stake in shares of Movado Group by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock worth $19,524,000 after purchasing an additional 57,353 shares in the last quarter. Denali Advisors LLC raised its stake in shares of Movado Group by 4.3% during the 3rd quarter. Denali Advisors LLC now owns 76,508 shares of the company’s stock worth $1,451,000 after purchasing an additional 3,131 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Movado Group during the 3rd quarter valued at about $495,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Stock Performance

Shares of NYSE MOV opened at $23.60 on Friday. The firm has a market cap of $522.50 million, a price-to-earnings ratio of 24.33 and a beta of 0.93. The business’s 50-day simple moving average is $23.39 and its 200-day simple moving average is $20.66. Movado Group Inc. has a 52 week low of $12.85 and a 52 week high of $25.85.

Insider Transactions at Movado Group

In other Movado Group news, SVP Michelle Kennedy sold 1,290 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $20.89, for a total transaction of $26,948.10. Following the transaction, the senior vice president owned 27,857 shares in the company, valued at $581,932.73. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 30.80% of the stock is owned by insiders.

Analyst Ratings Changes

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