StockNews.com Upgrades Movado Group (NYSE:MOV) to “Buy”

StockNews.com upgraded shares of Movado Group (NYSE:MOV) from a hold rating to a buy rating in a research note published on Wednesday.

Separately, BWS Financial started coverage on Movado Group in a research report on Thursday, January 2nd. They issued a “buy” rating and a $31.50 price target on the stock.

Movado Group Trading Down 0.9 %

MOV opened at $19.30 on Wednesday. The stock’s 50 day simple moving average is $19.80 and its 200-day simple moving average is $20.54. Movado Group has a 1 year low of $17.86 and a 1 year high of $29.45. The stock has a market cap of $427.36 million, a PE ratio of 18.56 and a beta of 1.00.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date was Monday, December 16th. Movado Group’s dividend payout ratio (DPR) is 134.62%.

Hedge Funds Weigh In On Movado Group

Institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC acquired a new position in Movado Group in the third quarter worth $45,000. Point72 DIFC Ltd acquired a new position in Movado Group in the third quarter worth $78,000. FMR LLC boosted its stake in Movado Group by 393.0% in the third quarter. FMR LLC now owns 7,400 shares of the company’s stock worth $138,000 after purchasing an additional 5,899 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Movado Group during the third quarter valued at $187,000. Finally, Aigen Investment Management LP acquired a new position in shares of Movado Group during the fourth quarter valued at $201,000. Institutional investors and hedge funds 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.