Movado Group (NYSE:MOV) Downgraded by StockNews.com to Hold

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

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

Movado Group Stock Performance

Shares of NYSE:MOV opened at $18.88 on Tuesday. Movado Group has a 52-week low of $17.86 and a 52-week high of $28.93. The firm has a market capitalization of $418.06 million, a P/E ratio of 18.15 and a beta of 1.00. The stock has a 50 day moving average price of $19.54 and a 200-day moving average price of $19.94.

Institutional Trading of Movado Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Movado Group by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,395 shares of the company’s stock worth $500,000 after buying an additional 848 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Movado Group by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 16,330 shares of the company’s stock worth $304,000 after buying an additional 1,301 shares during the last quarter. Barclays PLC grew its stake in shares of Movado Group by 5.3% in the 4th quarter. Barclays PLC now owns 28,080 shares of the company’s stock worth $552,000 after buying an additional 1,416 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Movado Group by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock worth $1,340,000 after buying an additional 1,994 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Movado Group by 18.4% in the 4th quarter. Wells Fargo & Company MN now owns 14,372 shares of the company’s stock worth $283,000 after buying an additional 2,234 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

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.