Fund 1 Investments LLC Takes Position in Fossil Group, Inc. $FOSL

Fund 1 Investments LLC purchased a new position in shares of Fossil Group, Inc. (NASDAQ:FOSL) during the second quarter, HoldingsChannel reports. The firm purchased 536,982 shares of the accessories brand company’s stock, valued at approximately $2,223,000.

Several other large investors have also recently added to or reduced their stakes in FOSL. Goldman Sachs Group Inc. lifted its position in Fossil Group by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock valued at $166,000 after purchasing an additional 43,849 shares during the period. Jane Street Group LLC increased its position in Fossil Group by 93.1% during the 1st quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock worth $49,000 after purchasing an additional 20,530 shares during the period. Acadian Asset Management LLC raised its stake in shares of Fossil Group by 154.1% during the 1st quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock worth $527,000 after buying an additional 278,391 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Fossil Group during the 2nd quarter worth approximately $122,000. Finally, Nantahala Capital Management LLC lifted its holdings in shares of Fossil Group by 21.5% in the 2nd quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock valued at $7,530,000 after buying an additional 898,626 shares during the period. 61.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Pamela J. Edwards acquired 7,208 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $5.58 per share, for a total transaction of $40,220.64. Following the transaction, the director directly owned 50,251 shares of the company’s stock, valued at approximately $280,400.58. This trade represents a 16.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FOSL has been the topic of a number of analyst reports. Wall Street Zen upgraded Fossil Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research report on Friday, July 17th. Finally, Northland Securities set a $8.00 target price on Fossil Group in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fossil Group currently has an average rating of “Hold” and a consensus target price of $7.50.

Fossil Group Stock Performance

NASDAQ:FOSL opened at $5.42 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 2.74. The company has a market capitalization of $320.54 million, a P/E ratio of -4.23 and a beta of 1.62. The firm has a 50-day moving average price of $4.71 and a two-hundred day moving average price of $4.51. Fossil Group, Inc. has a twelve month low of $1.70 and a twelve month high of $6.25.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.16. The company had revenue of $209.69 million for the quarter, compared to the consensus estimate of $199.33 million. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. As a group, research analysts expect that Fossil Group, Inc. will post -0.04 earnings per share for the current fiscal year.

About Fossil Group

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.