Movado Group (NYSE:MOV) Coverage Initiated at BWS Financial

Equities research analysts at BWS Financial began coverage on shares of Movado Group (NYSE:MOV - Get Free Report) in a report issued on Thursday, Marketbeat.com reports. The brokerage set a "buy" rating and a $31.50 price target on the stock. BWS Financial's target price would suggest a potential upside of 61.13% from the stock's previous close.

Separately, StockNews.com lowered shares of Movado Group from a "buy" rating to a "hold" rating in a research note on Friday, September 6th.

Movado Group Price Performance

Shares of Movado Group stock traded down $0.13 during trading hours on Thursday, hitting $19.55. The company's stock had a trading volume of 136,067 shares, compared to its average volume of 197,804. The company has a market capitalization of $432.90 million, a PE ratio of 18.80 and a beta of 1.04. The stock has a 50 day moving average of $19.83 and a 200 day moving average of $21.57. Movado Group has a 12 month low of $17.86 and a 12 month high of $30.14.

Institutional Investors Weigh In On Movado Group

Several institutional investors have recently bought and sold shares of MOV. Royce & Associates LP lifted its position in Movado Group by 1.6% during the 3rd quarter. Royce & Associates LP now owns 1,456,809 shares of the company's stock worth $27,097,000 after buying an additional 22,414 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Movado Group by 3.9% during the second quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company's stock worth $25,210,000 after acquiring an additional 38,038 shares in the last quarter. Geode Capital Management LLC boosted its position in Movado Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 355,152 shares of the company's stock valued at $6,607,000 after purchasing an additional 5,990 shares during the last quarter. American Century Companies Inc. grew its stake in Movado Group by 14.8% in the second quarter. American Century Companies Inc. now owns 335,533 shares of the company's stock valued at $8,341,000 after purchasing an additional 43,316 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of 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 purchasing an additional 236,847 shares during the last quarter. Institutional investors own 72.08% of the company's stock.

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.