Movado Group (NYSE:MOV) Downgraded by StockNews.com to Hold

Movado Group (NYSE:MOV - Get Free Report) was downgraded by stock 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 assumed coverage on Movado Group in a report on Thursday, January 2nd. They set a "buy" rating and a $31.50 target price on the stock.

Movado Group Stock Down 1.8 %

Shares of Movado Group stock traded down $0.36 on Thursday, hitting $19.50. 108,830 shares of the company were exchanged, compared to its average volume of 123,322. The stock has a market capitalization of $431.79 million, a price-to-earnings ratio of 18.75 and a beta of 1.00. The company has a 50-day moving average price of $19.69 and a 200 day moving average price of $20.26. Movado Group has a 1-year low of $17.86 and a 1-year high of $29.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MOV. nVerses Capital LLC acquired a new position in Movado Group in the third quarter valued at approximately $45,000. KLP Kapitalforvaltning AS acquired a new position in Movado Group in the fourth quarter valued at approximately $47,000. Point72 DIFC Ltd acquired a new position in Movado Group in the third quarter valued at approximately $78,000. FMR LLC lifted its holdings in Movado Group by 393.0% in the third quarter. FMR LLC now owns 7,400 shares of the company's stock valued at $138,000 after acquiring an additional 5,899 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Movado Group in the third quarter valued at approximately $187,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

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.