MOVADO GROUP INC

Ticker: MOV CUSIP: 624580106 Class: COM

Penn Capital Management Company, LLC's Holding History (CIK: 0001158202)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015

Shares 171,623 Value ($000) $4,661 Avg Close $28.81 Range $25.47 - $32.21

Q1 2015

Shares 197,989 Value ($000) $5,647 Avg Close $25.09 Range $22.66 - $31.71

Q4 2014

Shares 168,578 Value ($000) $4,783 Avg Close $31.09 Range $25.10 - $39.44

Q3 2014

Shares 93,237 Value ($000) $3,082 Avg Close $39.17 Range $33.06 - $44.93

Q2 2014

Shares 93,259 Value ($000) $3,886 Avg Close $40.35 Range $35.07 - $46.23

Q1 2014

Shares 64,380 Value ($000) $2,933 Avg Close $40.76 Range $34.77 - $48.27

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	171,623	$4,661	$28.81	$25.47 - $32.21
Q1 2015	197,989	$5,647	$25.09	$22.66 - $31.71
Q4 2014	168,578	$4,783	$31.09	$25.10 - $39.44
Q3 2014	93,237	$3,082	$39.17	$33.06 - $44.93
Q2 2014	93,259	$3,886	$40.35	$35.07 - $46.23
Q1 2014	64,380	$2,933	$40.76	$34.77 - $48.27