Teacher Retirement System of Texas Raises Stake in Movado Group, Inc. (NYSE:MOV)

Teacher Retirement System of Texas increased its stake in Movado Group, Inc. (NYSE:MOV) by 43.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,169 shares of the company’s stock after purchasing an additional 34,070 shares during the quarter. Teacher Retirement System of Texas’ holdings in Movado Group were worth $2,207,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MOV. Jane Street Group LLC grew its position in Movado Group by 347.0% during the third quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock worth $5,675,000 after buying an additional 236,847 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Movado Group in the 4th quarter worth approximately $804,000. Confluence Investment Management LLC increased its stake in Movado Group by 60.6% in the 4th quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock valued at $3,465,000 after purchasing an additional 66,422 shares in the last quarter. VELA Investment Management LLC raised its holdings in Movado Group by 121.1% during the fourth quarter. VELA Investment Management LLC now owns 113,574 shares of the company’s stock worth $2,235,000 after purchasing an additional 62,214 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Movado Group by 1.3% during the fourth quarter. Royce & Associates LP now owns 1,475,354 shares of the company’s stock worth $29,035,000 after purchasing an additional 18,545 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

MOV has been the subject of a number of research analyst reports. StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. BWS Financial initiated coverage on shares of Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 target price for the company.

Movado Group Stock Performance

Shares of NYSE:MOV opened at $17.68 on Thursday. The business’s fifty day moving average price is $19.00 and its two-hundred day moving average price is $19.31. The stock has a market cap of $391.49 million, a PE ratio of 17.00 and a beta of 0.96. Movado Group, Inc. has a one year low of $17.24 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.