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

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

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

Movado Group Stock Performance

Movado Group stock traded down $0.07 during midday trading on Tuesday, hitting $19.67. 86,342 shares of the company were exchanged, compared to its average volume of 116,138. Movado Group has a fifty-two week low of $17.86 and a fifty-two week high of $29.45. The business has a fifty day simple moving average of $19.87 and a two-hundred day simple moving average of $20.81. The firm has a market capitalization of $435.38 million, a PE ratio of 18.91 and a beta of 1.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Movado Group by 5.1% during the fourth quarter. Empowered Funds LLC now owns 102,680 shares of the company’s stock worth $2,021,000 after purchasing an additional 4,958 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Movado Group by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 68,091 shares of the company’s stock worth $1,340,000 after acquiring an additional 1,994 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of Movado Group by 60.6% in the 4th quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock worth $3,465,000 after acquiring an additional 66,422 shares during the period. Sanctuary Advisors LLC increased its stake in Movado Group by 4.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 60,148 shares of the company’s stock valued at $1,179,000 after purchasing an additional 2,551 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Movado Group during the third quarter worth $364,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

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.