Miller Value Partners LLC Sells 141,980 Shares of Fossil Group, Inc. $FOSL

Miller Value Partners LLC trimmed its holdings in shares of Fossil Group, Inc. (NASDAQ:FOSL) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,184,415 shares of the accessories brand company’s stock after selling 141,980 shares during the quarter. Fossil Group comprises 4.2% of Miller Value Partners LLC’s portfolio, making the stock its 7th biggest holding. Miller Value Partners LLC owned 0.06% of Fossil Group worth $11,973,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Balyasny Asset Management L.P. acquired a new position in Fossil Group during the fourth quarter worth $113,000. Bridgeway Capital Management LLC grew its position in shares of Fossil Group by 21.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 540,203 shares of the accessories brand company’s stock valued at $2,031,000 after purchasing an additional 94,924 shares during the last quarter. 683 Capital Management LLC acquired a new stake in shares of Fossil Group in the fourth quarter valued at about $970,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Fossil Group in the fourth quarter valued at about $63,000. Finally, Fund 1 Investments LLC grew its position in shares of Fossil Group by 180.7% in the fourth quarter. Fund 1 Investments LLC now owns 642,043 shares of the accessories brand company’s stock valued at $2,414,000 after purchasing an additional 413,349 shares during the last quarter. 61.14% of the stock is owned by institutional investors and hedge funds.

Fossil Group Trading Down 5.2%

Shares of NASDAQ:FOSL opened at $4.18 on Thursday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.10 and a current ratio of 1.72. The stock’s 50-day moving average is $4.52 and its 200-day moving average is $4.16. Fossil Group, Inc. has a 52-week low of $1.27 and a 52-week high of $5.74. The company has a market cap of $247.04 million, a P/E ratio of -3.67 and a beta of 1.62.

Fossil Group (NASDAQ:FOSL) last released its earnings results on Wednesday, May 13th. The accessories brand company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.25. Fossil Group had a negative net margin of 6.19% and a negative return on equity of 48.51%. The business had revenue of $224.76 million during the quarter, compared to analysts’ expectations of $204.74 million. Equities research analysts predict that Fossil Group, Inc. will post -0.15 earnings per share for the current year.

Insider Buying and Selling at Fossil Group

In related news, Director Wendy Lee Schoppert bought 24,331 shares of Fossil Group stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $4.14 per share, for a total transaction of $100,730.34. Following the completion of the purchase, the director owned 120,625 shares in the company, valued at approximately $499,387.50. This represents a 25.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

FOSL has been the topic of several research analyst reports. Zacks Research raised Fossil Group to a “hold” rating in a research report on Friday, February 20th. Wall Street Zen raised Fossil Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Northland Securities initiated coverage on Fossil Group in a research report on Thursday, February 19th. They issued an “outperform” rating and a $7.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a research report on Tuesday, April 21st. Finally, Maxim Group raised their price target on Fossil Group from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.00.

Fossil Group Company Profile

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.