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

Movado Group (NYSE:MOV) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

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

Movado Group Stock Up 2.9 %

NYSE MOV opened at $14.30 on Wednesday. The company’s 50 day moving average is $16.16 and its 200-day moving average is $18.43. The firm has a market cap of $317.92 million, a P/E ratio of 13.75 and a beta of 0.92. Movado Group has a 12-month low of $12.85 and a 12-month high of $27.80.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $180.62 million. Equities analysts expect that Movado Group will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Movado Group

Institutional investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS purchased a new position in shares of Movado Group during the 4th quarter valued at about $47,000. GAMMA Investing LLC raised its stake in Movado Group by 3,303.5% during the first quarter. GAMMA Investing LLC now owns 2,893 shares of the company’s stock valued at $48,000 after purchasing an additional 2,808 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Movado Group by 1,597.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company’s stock valued at $57,000 after buying an additional 3,211 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Movado Group in the 4th quarter valued at approximately $201,000. Finally, Two Sigma Advisers LP boosted its stake in Movado Group by 24.0% during the fourth quarter. Two Sigma Advisers LP now owns 12,400 shares of the company’s stock worth $244,000 after buying an additional 2,400 shares during the period. Institutional investors own 72.08% of the company’s stock.

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.