Movado Group (NYSE:MOV) Cut to “Hold” at StockNews.com

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

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

Movado Group Stock Down 1.5 %

NYSE MOV opened at $19.70 on Thursday. The stock has a market capitalization of $436.16 million, a PE ratio of 18.94 and a beta of 1.00. The company has a 50 day moving average price of $19.73 and a two-hundred day moving average price of $20.39. Movado Group has a 12-month low of $17.86 and a 12-month high of $29.25.

Institutional Trading of Movado Group

Institutional investors and hedge funds have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Movado Group in the third quarter worth $45,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Movado Group in the fourth quarter worth $47,000. Point72 DIFC Ltd acquired a new stake in shares of Movado Group in the third quarter worth $78,000. FMR LLC lifted its stake in shares of Movado Group by 393.0% in 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 last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Movado Group in the third quarter worth $187,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Company Profile

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.