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

Teacher Retirement System of Texas raised its position in Movado Group, Inc. (NYSE:MOV) by 43.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,169 shares of the company’s stock after buying an additional 34,070 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.51% of Movado Group worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in Movado Group by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock valued at $304,000 after purchasing an additional 1,301 shares during the last quarter. Intech Investment Management LLC acquired a new position in Movado Group in the third quarter valued at $200,000. Quantbot Technologies LP purchased a new stake in shares of Movado Group in the third quarter valued at about $244,000. FMR LLC boosted its stake in shares of Movado Group by 393.0% during the third quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after buying an additional 5,899 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Movado Group during the third quarter worth about $521,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com cut Movado Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. BWS Financial began coverage on Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price target for the company.

Movado Group Stock Down 0.3 %

Shares of Movado Group stock opened at $17.68 on Thursday. The firm has a market cap of $391.49 million, a price-to-earnings ratio of 17.00 and a beta of 0.96. Movado Group, Inc. has a 52-week low of $17.24 and a 52-week high of $28.26. The company’s 50-day simple moving average is $19.00 and its 200-day simple moving average is $19.31.

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.