Is Movado Group, Inc (MOV) A Good Stock To Buy?

Seeing as Movado Group, Inc (NYSE:MOV) has gone through a decline in interest from the aggregate hedge fund industry, we can see that there is a sect of hedgies who were dropping their full holdings by the end of the third quarter. At the top of the heap, Joel Greenblatt’s Gotham Asset Management dropped the largest investment of all the investors watched by Insider Monkey, comprising an estimated $1.7 million in stock, and George Hall’s Clinton Group was right behind this move, as the fund dumped about $0.5 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Movado Group, Inc (NYSE:MOV). We will take a look at FutureFuel Corp. (NYSE:FF), Hortonworks Inc (NASDAQ:HDP), Editas Medicine Inc (NASDAQ:EDIT), and Live Oak Bancshares Inc (NASDAQ:LOB). This group of stocks’ market values are closest to MOV’s market value.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $49 million. That figure was $51 million in MOV’s case. FutureFuel Corp. (NYSE:FF) is the most popular stock in this table. On the other hand Live Oak Bancshares Inc (NASDAQ:LOB) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Movado Group, Inc (NYSE:MOV) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None