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

StockNews.com downgraded shares of Movado Group (NYSE:MOV) from a buy rating to a hold rating in a research note released on Tuesday.

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

Movado Group Stock Performance

Shares of MOV opened at $18.37 on Tuesday. The stock has a fifty day moving average of $19.48 and a two-hundred day moving average of $19.89. The company has a market capitalization of $406.66 million, a PE ratio of 17.66 and a beta of 0.96. Movado Group has a fifty-two week low of $17.86 and a fifty-two week high of $28.26.

Institutional Trading of Movado Group

Several institutional investors have recently made changes to their positions in the stock. Royce & Associates LP grew its stake in shares of Movado Group by 1.3% during the 4th quarter. Royce & Associates LP now owns 1,475,354 shares of the company’s stock valued at $29,035,000 after buying an additional 18,545 shares during the period. Vanguard Group Inc. boosted its position in Movado Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 959,424 shares of the company’s stock worth $18,881,000 after purchasing an additional 9,999 shares during the period. Ameriprise Financial Inc. boosted its position in Movado Group by 19.3% during the 4th quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company’s stock worth $10,813,000 after purchasing an additional 88,778 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Movado Group by 202.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company’s stock worth $9,414,000 after purchasing an additional 320,103 shares during the period. Finally, Millennium Management LLC boosted its position in Movado Group by 10.2% during the 4th quarter. Millennium Management LLC now owns 443,179 shares of the company’s stock worth $8,722,000 after purchasing an additional 41,063 shares during the period. 72.08% of the stock is 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.