Movado Group (NYSE:MOV) Rating Lowered to "Hold" at StockNews.com

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 on Tuesday.

Separately, BWS Financial began coverage on shares of Movado Group in a report on Thursday, January 2nd. They set a "buy" rating and a $31.50 price target for the company.

Movado Group Stock Down 1.3 %

MOV stock traded down $0.23 during midday trading on Tuesday, hitting $18.15. The company's stock had a trading volume of 64,450 shares, compared to its average volume of 199,193. Movado Group has a 52-week low of $17.82 and a 52-week high of $28.26. The firm has a 50-day simple moving average of $19.48 and a 200-day simple moving average of $19.89. The firm has a market capitalization of $401.90 million, a P/E ratio of 17.46 and a beta of 0.96.

Hedge Funds Weigh In On Movado Group

Hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its position in Movado Group by 1.3% during the 4th quarter. Royce & Associates LP now owns 1,475,354 shares of the company's stock worth $29,035,000 after acquiring an additional 18,545 shares during the last quarter. Vanguard Group Inc. raised its holdings in Movado Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 959,424 shares of the company's stock valued at $18,881,000 after buying an additional 9,999 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Movado Group by 19.3% in the fourth quarter. Ameriprise Financial Inc. now owns 549,455 shares of the company's stock valued at $10,813,000 after acquiring an additional 88,778 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Movado Group by 202.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock valued at $9,414,000 after buying an additional 320,103 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Movado Group by 10.2% in the fourth quarter. Millennium Management LLC now owns 443,179 shares of the company's stock valued at $8,722,000 after purchasing an additional 41,063 shares during the last quarter. Institutional investors own 72.08% of the company's stock.

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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.