ExodusPoint Capital Management LP Acquires 15,404 Shares of Movado Group, Inc. (NYSE:MOV)

ExodusPoint Capital Management LP grew its holdings in Movado Group, Inc. (NYSE:MOV) by 71.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,969 shares of the company’s stock after purchasing an additional 15,404 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.17% of Movado Group worth $728,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. KLP Kapitalforvaltning AS purchased a new position in Movado Group during the fourth quarter valued at approximately $47,000. FMR LLC increased its holdings in shares of Movado Group by 393.0% in the 3rd quarter. FMR LLC now owns 7,400 shares of the company’s stock valued at $138,000 after acquiring an additional 5,899 shares during the period. Aigen Investment Management LP bought a new position in shares of Movado Group in the 4th quarter worth $201,000. Virtu Financial LLC purchased a new stake in shares of Movado Group during the 3rd quarter worth $364,000. Finally, XTX Topco Ltd boosted its position in Movado Group by 135.6% during the third quarter. XTX Topco Ltd now owns 20,462 shares of the company’s stock valued at $381,000 after purchasing an additional 11,776 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MOV. BWS Financial started coverage on shares of Movado Group in a research report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price target for the company. StockNews.com downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

Movado Group Stock Performance

Movado Group stock opened at $13.52 on Friday. The stock has a 50-day moving average of $17.84 and a two-hundred day moving average of $18.94. The stock has a market cap of $299.28 million, a PE ratio of 13.00 and a beta of 0.92. Movado Group, Inc. has a one year low of $12.85 and a one year high of $27.80.

About Movado Group

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.