BWS Financial Begins Coverage on Movado Group (NYSE:MOV)

BWS Financial started coverage on shares of Movado Group (NYSE:MOV) in a research report released on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $31.50 price target on the stock.

Separately, StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Movado Group Stock Up 2.0 %

NYSE:MOV opened at $19.95 on Thursday. The firm has a market capitalization of $441.75 million, a PE ratio of 19.18 and a beta of 1.04. Movado Group has a 12-month low of $17.86 and a 12-month high of $30.03. The firm has a 50-day moving average price of $19.86 and a 200 day moving average price of $21.50.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.02%. The ex-dividend date was Monday, December 16th. Movado Group’s dividend payout ratio is currently 134.62%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC grew its holdings in Movado Group by 347.0% during the 3rd quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock worth $5,675,000 after acquiring an additional 236,847 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Movado Group by 3.9% during the second quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock valued at $25,210,000 after purchasing an additional 38,038 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Movado Group in the third quarter valued at approximately $521,000. VELA Investment Management LLC bought a new position in Movado Group in the 3rd quarter worth approximately $955,000. Finally, American Century Companies Inc. raised its position in Movado Group by 14.8% in the 2nd quarter. American Century Companies Inc. now owns 335,533 shares of the company’s stock worth $8,341,000 after purchasing an additional 43,316 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

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.