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

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

Separately, BWS Financial began coverage on Movado Group in a research note on Thursday, January 2nd. They set a “buy” rating and a $31.50 price objective for the company.

Movado Group Trading Down 0.3 %

MOV opened at $19.84 on Tuesday. The company has a market cap of $439.27 million, a P/E ratio of 19.08 and a beta of 1.03. Movado Group has a 12 month low of $17.86 and a 12 month high of $29.45. The business’s 50-day moving average price is $19.91 and its 200-day moving average price is $20.80.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.06%. The ex-dividend date was Monday, December 16th. Movado Group’s dividend payout ratio (DPR) is currently 134.62%.

Hedge Funds Weigh In On Movado Group

Several hedge funds have recently made changes to their positions in the business. nVerses Capital LLC bought a new position in Movado Group in the 3rd quarter worth $45,000. Point72 DIFC Ltd bought a new stake in Movado Group during the 3rd quarter valued at approximately $78,000. FMR LLC grew its holdings in shares of Movado Group by 393.0% during the 3rd quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after acquiring an additional 5,899 shares during the period. Ballentine Partners LLC bought a new position in shares of Movado Group in the 3rd quarter worth approximately $187,000. Finally, Intech Investment Management LLC purchased a new position in shares of Movado Group in the 3rd quarter valued at approximately $200,000. 72.08% of the stock is owned by hedge funds and other 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.