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

Movado Group (NYSE:MOV) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

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

Movado Group Stock Performance

Shares of Movado Group stock opened at $20.13 on Monday. The company has a 50-day simple moving average of $19.56 and a two-hundred day simple moving average of $20.06. The stock has a market capitalization of $445.69 million, a PE ratio of 19.35 and a beta of 1.00. Movado Group has a 52-week low of $17.86 and a 52-week high of $29.14.

Institutional Trading of Movado Group

Large investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in Movado Group during the fourth quarter valued at approximately $47,000. Point72 DIFC Ltd bought a new position in shares of Movado Group during the 3rd quarter valued at $78,000. FMR LLC boosted its stake in shares of Movado Group by 393.0% in the 3rd quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after buying an additional 5,899 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Movado Group in the 3rd quarter worth $187,000. Finally, Intech Investment Management LLC bought a new stake in shares of Movado Group in the third quarter worth $200,000. 72.08% of the stock is currently owned by 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.