Nantahala Capital Management LLC Acquires Shares of 5,505,128 Fossil Group, Inc. $FOSL

Nantahala Capital Management LLC acquired a new position in shares of Fossil Group, Inc. (NASDAQ:FOSL) during the second quarter, Holdings Channel reports. The fund acquired 5,505,128 shares of the accessories brand company’s stock, valued at approximately $22,791,230. Fossil Group comprises about 0.0% of Nantahala Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Nantahala Capital Management LLC owned about 0.10% of Fossil Group as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in Fossil Group by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock worth $166,000 after purchasing an additional 43,849 shares during the last quarter. Jane Street Group LLC grew its position in Fossil Group by 93.1% in 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 in the last quarter. Acadian Asset Management LLC increased its stake in Fossil Group by 154.1% in the 1st quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock valued at $527,000 after buying an additional 278,391 shares during the last quarter. XTX Topco Ltd purchased a new stake in Fossil Group in the 2nd quarter valued at about $122,000. Finally, Ameriprise Financial Inc. increased its stake in Fossil Group by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company’s stock valued at $3,643,000 after buying an additional 13,091 shares during the last quarter. Institutional investors own 61.14% of the company’s stock.

Insiders Place Their Bets

In other Fossil Group news, Director Pamela J. Edwards acquired 7,208 shares of Fossil Group stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $5.58 per share, for a total transaction of $40,220.64. Following the purchase, the director owned 50,251 shares of the company’s stock, valued at approximately $280,400.58. This represents a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Fossil Group Price Performance

Shares of NASDAQ:FOSL opened at $5.35 on Friday. The firm has a market capitalization of $316.40 million, a PE ratio of -4.18 and a beta of 1.62. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 2.74. The company has a 50-day moving average price of $4.75 and a two-hundred day moving average price of $4.53. Fossil Group, Inc. has a twelve month low of $1.70 and a twelve month high of $6.25.

Fossil Group (NASDAQ:FOSL) last posted 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 analyst estimates of $199.33 million. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. Equities analysts forecast that Fossil Group, Inc. will post -0.04 EPS for the current year.

Analysts Set New Price Targets

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

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.