Movado Group (NYSE:MOV) Upgraded at StockNews.com

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

Separately, BWS Financial assumed coverage on shares of 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 Stock Down 1.1 %

MOV stock opened at $19.48 on Wednesday. The business has a 50 day moving average of $19.82 and a 200 day moving average of $20.58. Movado Group has a twelve month low of $17.86 and a twelve month high of $29.45. The firm has a market cap of $431.18 million, a PE ratio of 18.73 and a beta of 1.00.

Hedge Funds Weigh In On Movado Group

A number of hedge funds have recently bought and sold shares of MOV. Inceptionr LLC purchased a new stake in shares of Movado Group during the 4th quarter valued at about $460,000. Aigen Investment Management LP purchased a new stake in Movado Group in the fourth quarter worth approximately $201,000. Proficio Capital Partners LLC bought a new stake in Movado Group in the 4th quarter worth approximately $804,000. Victory Capital Management Inc. grew its position in Movado Group by 131.7% in the 4th quarter. Victory Capital Management Inc. now owns 37,835 shares of the company’s stock worth $745,000 after purchasing an additional 21,505 shares during the period. Finally, VELA Investment Management LLC raised its stake in Movado Group by 121.1% during the 4th quarter. VELA Investment Management LLC now owns 113,574 shares of the company’s stock valued at $2,235,000 after buying an additional 62,214 shares during the last quarter. Hedge funds and other institutional investors 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.