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

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

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

Movado Group Stock Down 0.3 %

NYSE:MOV opened at $19.67 on Tuesday. Movado Group has a 52 week low of $17.86 and a 52 week high of $29.45. The stock’s 50-day moving average price is $19.87 and its 200-day moving average price is $20.81. The stock has a market capitalization of $435.38 million, a PE ratio of 18.91 and a beta of 1.03.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.12%. Movado Group’s dividend payout ratio is currently 134.62%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Movado Group during the third quarter valued at approximately $45,000. Point72 DIFC Ltd purchased a new stake in shares of Movado Group during the third quarter worth approximately $78,000. FMR LLC raised its stake in Movado Group by 393.0% in the 3rd quarter. FMR LLC now owns 7,400 shares of the company’s stock valued at $138,000 after purchasing an additional 5,899 shares during the last quarter. Ballentine Partners LLC purchased a new position in Movado Group in the 3rd quarter valued at $187,000. Finally, Intech Investment Management LLC acquired a new stake in Movado Group during the 3rd quarter worth $200,000. 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.