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

Movado Group (NYSE:MOV) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

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

Movado Group Trading Up 0.2 %

Shares of NYSE:MOV traded up $0.04 during trading on Monday, hitting $19.68. 108,790 shares of the stock were exchanged, compared to its average volume of 133,371. The company has a fifty day moving average price of $19.56 and a two-hundred day moving average price of $20.08. The company has a market cap of $435.69 million, a PE ratio of 18.92 and a beta of 1.00. Movado Group has a 12-month low of $17.86 and a 12-month high of $29.14.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MOV. KLP Kapitalforvaltning AS acquired a new position in Movado Group in the fourth quarter valued at $47,000. Point72 DIFC Ltd purchased a new stake in Movado Group in the 3rd quarter valued at about $78,000. FMR LLC increased its stake 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 acquiring an additional 5,899 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Movado Group during the 3rd quarter worth about $187,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Movado Group in the fourth quarter worth approximately $201,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

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.