Movado Group (NYSE:MOV) Cut to Hold at StockNews.com

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

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

Movado Group Stock Performance

MOV stock opened at $19.50 on Thursday. The stock’s 50 day simple moving average is $19.69 and its 200 day simple moving average is $20.34. The company has a market cap of $431.73 million, a P/E ratio of 18.75 and a beta of 1.00. Movado Group has a fifty-two week low of $17.86 and a fifty-two week high of $29.25.

Institutional Trading of Movado Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Movado Group by 347.0% in the third quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock valued at $5,675,000 after purchasing an additional 236,847 shares in the last quarter. Confluence Investment Management LLC lifted its stake in Movado Group by 60.6% during the 4th quarter. Confluence Investment Management LLC now owns 176,057 shares of the company’s stock valued at $3,465,000 after acquiring an additional 66,422 shares in the last quarter. Walleye Capital LLC purchased a new position in Movado Group during the 3rd quarter worth $521,000. VELA Investment Management LLC purchased a new position in Movado Group during the 3rd quarter worth $955,000. Finally, Paloma Partners Management Co bought a new stake in shares of Movado Group in the 3rd quarter worth $550,000. 72.08% of the stock is owned by institutional investors.

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.