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 research report issued on Monday.

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

Movado Group Trading Up 0.2 %

NYSE:MOV traded up $0.04 during trading hours on Monday, hitting $19.68. The stock had a trading volume of 108,790 shares, compared to its average volume of 133,371. The business has a 50 day simple moving average of $19.56 and a two-hundred day simple moving average of $20.08. Movado Group has a 1-year low of $17.86 and a 1-year high of $29.14. The company has a market cap of $435.69 million, a PE ratio of 18.92 and a beta of 1.00.

Hedge Funds Weigh In On Movado Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MOV. Jane Street Group LLC grew its stake 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 buying an additional 236,847 shares during the last quarter. Confluence Investment Management LLC increased 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. Walleye Capital LLC bought a new stake in Movado Group in the 3rd quarter valued at about $521,000. VELA Investment Management LLC acquired a new position in Movado Group during the 3rd quarter valued at about $955,000. Finally, Paloma Partners Management Co acquired a new position in Movado Group during the 3rd quarter valued at about $550,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

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.