Brandywine Global Investment Management LLC increased its position in shares of Movado Group, Inc (NYSE:MOV) by 33.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,602 shares of the company’s stock after purchasing an additional 2,905 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.05% of Movado Group worth $374,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MOV. Driehaus Capital Management LLC purchased a new position in shares of Movado Group during the 4th quarter worth about $4,568,000. BlackRock Inc. boosted its stake in shares of Movado Group by 4.5% during the 4th quarter. BlackRock Inc. now owns 2,052,460 shares of the company’s stock worth $66,090,000 after purchasing an additional 89,273 shares during the period. Bowling Portfolio Management LLC purchased a new position in shares of Movado Group during the 4th quarter worth about $2,314,000. Royce & Associates LP boosted its stake in shares of Movado Group by 15.3% during the 4th quarter. Royce & Associates LP now owns 510,826 shares of the company’s stock worth $16,449,000 after purchasing an additional 67,677 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Movado Group by 69.0% during the 4th quarter. Acadian Asset Management LLC now owns 163,060 shares of the company’s stock worth $5,251,000 after purchasing an additional 66,580 shares during the period. 66.06% of the stock is owned by hedge funds and other institutional investors.

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A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. ValuEngine raised shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.

Movado Group stock opened at $32.05 on Thursday. Movado Group, Inc has a 52 week low of $20.50 and a 52 week high of $33.95. The company has a current ratio of 4.80, a quick ratio of 3.12 and a debt-to-equity ratio of 0.05. The company has a market cap of $736.34, a PE ratio of 31.12 and a beta of -0.03.

In other Movado Group news, Director Richard D. Isserman sold 2,650 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $32.07, for a total value of $84,985.50. Following the completion of the sale, the director now directly owns 11,184 shares of the company’s stock, valued at approximately $358,670.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard Cote sold 1,300 shares of the business’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $32.00, for a total transaction of $41,600.00. Following the completion of the sale, the director now directly owns 389,196 shares of the company’s stock, valued at $12,454,272. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,050 shares of company stock valued at $481,733. 33.30% of the stock is owned by corporate insiders.

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Movado Group Profile

Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.

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Institutional Ownership by Quarter for Movado Group (NYSE:MOV)

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