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

Equities researchers at BWS Financial started coverage on shares of Movado Group (NYSE:MOV) in a report issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $31.50 price target on the stock. BWS Financial’s price target would suggest a potential upside of 57.89% 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 opened at $19.95 on Thursday. The stock has a market capitalization of $441.75 million, a price-to-earnings ratio of 19.18 and a beta of 1.04. The business has a 50-day moving average of $19.86 and a 200 day moving average of $21.53. Movado Group has a 12 month low of $17.86 and a 12 month high of $30.03.

Institutional Trading of Movado Group

A number of large investors have recently made changes to their positions in MOV. Jane Street Group LLC lifted its stake in Movado Group by 347.0% in the third quarter. Jane Street Group LLC now owns 305,112 shares of the company’s stock worth $5,675,000 after acquiring an additional 236,847 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Movado Group by 3.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,014,073 shares of the company’s stock worth $25,210,000 after purchasing an additional 38,038 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Movado Group during the third quarter worth $521,000. VELA Investment Management LLC purchased a new position in Movado Group in the third quarter valued at $955,000. Finally, American Century Companies Inc. raised 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 buying an additional 43,316 shares in the last quarter. 72.08% of the stock is currently owned by hedge funds and other 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.