Fox Run Management L.L.C. acquired a new stake in Fossil Group, Inc. (NASDAQ:FOSL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 36,000 shares of the accessories brand company’s stock, valued at approximately $373,000. Fox Run Management L.L.C. owned 0.07% of Fossil Group at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Koch Industries Inc. bought a new stake in Fossil Group during the first quarter worth $196,000. Wayne Hummer Investments L.L.C. bought a new stake in Fossil Group during the first quarter worth $205,000. Renaissance Technologies LLC bought a new stake in Fossil Group during the fourth quarter worth $217,000. Laurion Capital Management LP bought a new stake in Fossil Group during the first quarter worth $228,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Fossil Group during the first quarter worth approximately $246,000. 97.21% of the stock is owned by institutional investors and hedge funds.
Shares of Fossil Group, Inc. (NASDAQ:FOSL) opened at 11.04 on Friday. The firm has a 50-day moving average price of $10.15 and a 200-day moving average price of $16.09. Fossil Group, Inc. has a 1-year low of $8.98 and a 1-year high of $36.87. The company has a market cap of $535.04 million, a P/E ratio of 21.65 and a beta of 0.71.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.14. The firm had revenue of $582 million during the quarter, compared to analyst estimates of $590.51 million. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. Fossil Group’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 earnings per share. On average, equities analysts expect that Fossil Group, Inc. will post $0.84 EPS for the current year.
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A number of equities analysts recently commented on FOSL shares. Vetr downgraded Fossil Group from a “strong-buy” rating to a “buy” rating and set a $18.50 price objective for the company. in a report on Monday, April 17th. ValuEngine upgraded Fossil Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. TheStreet downgraded Fossil Group from a “c-” rating to a “d+” rating in a report on Thursday, May 11th. Nomura restated a “hold” rating and set a $13.00 price target on shares of Fossil Group in a report on Friday, May 12th. Finally, Zacks Investment Research raised Fossil Group from a “strong sell” rating to a “hold” rating in a research report on Monday, May 8th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Fossil Group currently has a consensus rating of “Hold” and an average target price of $19.89.
In other Fossil Group news, Chairman Kosta N. Kartsotis sold 625,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $9.73, for a total value of $6,081,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the completion of the transaction, the chairman now owns 4,183,047 shares in the company, valued at $47,226,600.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,220,281 shares of company stock worth $23,790,210. Company insiders own 12.80% of the company’s stock.
About Fossil Group
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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