Movado Group (NYSE:MOV) Sets New 52-Week Low at $23.71
Movado Group, Inc (NYSE:MOV)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $23.71 and last traded at $23.89, with a volume of 303 shares. The stock had previously closed at $24.49.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Movado Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. TheStreet cut shares of Movado Group from a “b-” rating to a “c+” rating in a research note on Monday, June 10th.
The firm has a market capitalization of $549.70 million, a price-to-earnings ratio of 8.90 and a beta of 0.44. The company has a 50 day simple moving average of $25.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.99 and a quick ratio of 2.40.
Large investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Movado Group by 56.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,057,217 shares of the company’s stock worth $28,545,000 after acquiring an additional 379,589 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Movado Group by 126.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 520,000 shares of the company’s stock worth $14,040,000 after acquiring an additional 290,000 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of Movado Group in the 2nd quarter worth about $13,221,000. Northern Trust Corp lifted its holdings in shares of Movado Group by 0.8% in the 2nd quarter. Northern Trust Corp now owns 458,665 shares of the company’s stock worth $12,384,000 after acquiring an additional 3,631 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Movado Group by 14.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 296,489 shares of the company’s stock worth $7,902,000 after acquiring an additional 38,210 shares during the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.
Movado Group Company Profile (NYSE:MOV)
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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