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

Equities research analysts at BWS Financial began coverage on shares of Movado Group (NYSE:MOV) in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $31.50 price target on the stock. BWS Financial’s price target indicates a potential upside of 60.06% from the stock’s previous close.

Separately, StockNews.com lowered Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Movado Group Price Performance

Shares of MOV stock opened at $19.68 on Thursday. The company’s fifty day moving average price is $19.80 and its two-hundred day moving average price is $21.58. The firm has a market capitalization of $435.77 million, a P/E ratio of 18.92 and a beta of 1.04. Movado Group has a 12 month low of $17.86 and a 12 month high of $30.44.

Institutional Investors Weigh In On Movado Group

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its holdings in Movado Group by 4.4% in the third quarter. Sanctuary Advisors LLC now owns 60,148 shares of the company’s stock worth $1,179,000 after acquiring an additional 2,551 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Movado Group during the third quarter worth about $364,000. Barclays PLC increased its holdings in shares of Movado Group by 368.7% in the 3rd quarter. Barclays PLC now owns 26,664 shares of the company’s stock worth $496,000 after acquiring an additional 20,975 shares during the period. Geode Capital Management LLC lifted its position in Movado Group by 1.7% in the 3rd 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. Finally, XTX Topco Ltd boosted its stake in Movado Group by 135.6% during the 3rd quarter. XTX Topco Ltd now owns 20,462 shares of the company’s stock valued at $381,000 after purchasing an additional 11,776 shares during the period. 72.08% of the stock is currently owned by institutional investors.

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.