Movado Group (NYSE:MOV) Raised to “Buy” at StockNews.com

Movado Group (NYSE:MOV) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, BWS Financial initiated coverage on Movado Group in a research note on Thursday, January 2nd. They issued a “buy” rating and a $31.50 target price on the stock.

Movado Group Price Performance

MOV opened at $19.92 on Tuesday. The firm has a market capitalization of $440.98 million, a P/E ratio of 19.15 and a beta of 1.03. Movado Group has a one year low of $17.86 and a one year high of $29.45. The company has a fifty day moving average price of $19.89 and a 200-day moving average price of $20.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in Movado Group during the third quarter valued at about $45,000. Point72 DIFC Ltd bought a new position in shares of Movado Group during the 3rd quarter valued at about $78,000. FMR LLC raised its holdings in shares of Movado Group by 393.0% during the 3rd quarter. FMR LLC now owns 7,400 shares of the company’s stock valued at $138,000 after buying an additional 5,899 shares in the last quarter. Ballentine Partners LLC bought a new stake in Movado Group in the 3rd quarter worth approximately $187,000. Finally, Intech Investment Management LLC purchased a new stake in Movado Group in the third quarter worth approximately $200,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

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.