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

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

Separately, BWS Financial started coverage on Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price objective on the stock.

Movado Group Stock Performance

Shares of NYSE MOV traded down $0.07 during mid-day trading on Tuesday, reaching $19.67. The company had a trading volume of 86,342 shares, compared to its average volume of 116,138. Movado Group has a one year low of $17.86 and a one year high of $29.45. The firm has a market cap of $435.38 million, a price-to-earnings ratio of 18.91 and a beta of 1.03. The business’s 50-day simple moving average is $19.87 and its 200 day simple moving average is $20.81.

Institutional Trading of Movado Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Public Sector Pension Investment Board increased its position in Movado Group by 6.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 34,448 shares of the company’s stock valued at $856,000 after buying an additional 1,941 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Movado Group by 467.9% during the second quarter. Squarepoint Ops LLC now owns 99,083 shares of the company’s stock valued at $2,463,000 after acquiring an additional 81,637 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Movado Group by 1.4% in the 2nd quarter. AQR Capital Management LLC now owns 93,643 shares of the company’s stock worth $2,328,000 after purchasing an additional 1,255 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Movado Group in the 2nd quarter worth about $1,497,000. Finally, SG Americas Securities LLC grew its position in Movado Group by 167.2% during the 3rd quarter. SG Americas Securities LLC now owns 13,145 shares of the company’s stock valued at $244,000 after purchasing an additional 8,226 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

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.