Alambic Investment Management buys $2,082,792 stake in Movado Group Inc (MOV)

Movado Group Inc (MOV) : Alambic Investment Management scooped up 36,187 additional shares in Movado Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 89,237 shares of Movado Group Inc which is valued at $2,082,792.Movado Group Inc makes up approximately 0.47% of Alambic Investment Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp boosted its stake in MOV in the latest quarter, The investment management firm added 60,693 additional shares and now holds a total of 1,471,440 shares of Movado Group Inc which is valued at $34,343,410. Movado Group Inc makes up approx 0.21% of Royce Associates Lp’s portfolio.Meeder Asset Management Inc reduced its stake in MOV by selling 13,945 shares or 83.92% in the most recent quarter. The Hedge Fund company now holds 2,673 shares of MOV which is valued at $59,581. Movado Group Inc makes up approx 0.01% of Meeder Asset Management Inc’s portfolio.New York State Teachers Retirement System boosted its stake in MOV in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 58,528 shares of Movado Group Inc which is valued at $1,304,589.Acadian Asset Management reduced its stake in MOV by selling 66,866 shares or 77.51% in the most recent quarter. The Hedge Fund company now holds 19,397 shares of MOV which is valued at $441,088.Nisa Investment Advisors reduced its stake in MOV by selling 3,900 shares or 19.9% in the most recent quarter. The Hedge Fund company now holds 15,700 shares of MOV which is valued at $354,820.

Movado Group Inc opened for trading at $23.68 and hit $24.11 on the upside on Monday, eventually ending the session at $23.84, with a gain of 1.32% or 0.31 points. The heightened volatility saw the trading volume jump to 1,46,459 shares. Company has a market cap of $549 M.

On the company’s financial health, Movado Group Inc reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 26, 2016. Analyst had a consensus of $0.16. The company had revenue of $114.10 million for the quarter, compared to analysts expectations of $116.47 million. The company’s revenue was down -5.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Movado Group Inc. (Movado Group) is engaged in designing sourcing marketing and distributing watches. The Company operates through two business segments: Wholesale and Retail. The Company’s Wholesale segment includes the design development sourcing marketing and distribution of watches and after-sales service activities and shipping. The Company’s Retail segment includes the Company’s outlet stores. The Company has operations in United States Europe the Americas (excluding the United States) Asia and the Middle East. The Company’s portfolio of brands includes Coach Watches Concord Ebel ESQ Movado Scuderia Ferrari Watches HUGO BOSS Watches Juicy Couture Watches Lacoste Watches Movado and Tommy Hilfiger Watches.

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