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

Movado Group (NYSE:MOV) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, BWS Financial restated a “buy” rating and issued a $31.50 price objective on shares of Movado Group in a report on Monday, April 21st.

Movado Group Trading Up 2.9 %

Shares of MOV stock opened at $14.30 on Wednesday. The business’s 50 day moving average is $16.16 and its two-hundred day moving average is $18.43. Movado Group has a 12-month low of $12.85 and a 12-month high of $27.80. The company has a market capitalization of $317.92 million, a P/E ratio of 13.75 and a beta of 0.92.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. The company had revenue of $181.48 million for the quarter, compared to analysts’ expectations of $180.62 million. On average, research analysts predict that Movado Group will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Movado Group

Large investors have recently made changes to their positions in the company. Royce & Associates LP lifted its position in shares of 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 buying an additional 18,545 shares during the last quarter. Vanguard Group Inc. raised its stake in Movado Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 959,424 shares of the company’s stock worth $18,881,000 after acquiring an additional 9,999 shares in the last quarter. Ameriprise Financial Inc. lifted its position 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 boosted its stake in Movado Group by 202.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company’s stock valued at $9,414,000 after acquiring an additional 320,103 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Movado Group by 10.2% during the fourth quarter. Millennium Management LLC now owns 443,179 shares of the company’s stock worth $8,722,000 after purchasing an additional 41,063 shares during 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.