Fossil Group (NASDAQ:FOSL) Stock Price Down 5.9%

Fossil Group, Inc. (NASDAQ:FOSL) fell 5.9% during trading on Wednesday . The company traded as low as $9.94 and last traded at $9.96. 626,322 shares changed hands during trading, a decline of 28% from the average session volume of 866,115 shares. The stock had previously closed at $10.59.

A number of brokerages have recently commented on FOSL. ValuEngine cut shares of Fossil Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 16th. BidaskClub cut shares of Fossil Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 31st.

The stock has a market capitalization of $512.68 million, a PE ratio of -5.08 and a beta of 2.03. The firm’s fifty day moving average is $10.32 and its 200-day moving average is $7.01. The company has a current ratio of 1.83, a quick ratio of 1.18 and a debt-to-equity ratio of 0.51.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings data on Wednesday, November 11th. The accessories brand company reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $435.50 million for the quarter. Fossil Group had a negative net margin of 5.51% and a negative return on equity of 15.60%.

In other Fossil Group news, EVP Darren E. Hart sold 82,477 shares of Fossil Group stock in a transaction dated Tuesday, November 17th. The stock was sold at an average price of $9.71, for a total value of $800,851.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kosta N. Kartsotis sold 30,000 shares of Fossil Group stock in a transaction dated Thursday, November 19th. The shares were sold at an average price of $11.85, for a total value of $355,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,290,837 shares of the company’s stock, valued at $38,996,418.45. The disclosure for this sale can be found here. Insiders own 8.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its position in shares of Fossil Group by 87.3% during the second quarter. Jacobs Levy Equity Management Inc. now owns 947,769 shares of the accessories brand company’s stock worth $4,407,000 after buying an additional 441,695 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Fossil Group by 2.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 644,884 shares of the accessories brand company’s stock worth $3,702,000 after buying an additional 17,768 shares in the last quarter. Bank of America Corp DE grew its position in shares of Fossil Group by 529.0% during the second quarter. Bank of America Corp DE now owns 414,890 shares of the accessories brand company’s stock worth $1,929,000 after buying an additional 348,933 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Fossil Group during the third quarter worth about $929,000. Finally, Federated Hermes Inc. grew its position in shares of Fossil Group by 1,471.5% during the second quarter. Federated Hermes Inc. now owns 152,440 shares of the accessories brand company’s stock worth $709,000 after buying an additional 142,740 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

About Fossil Group (NASDAQ:FOSL)

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company's products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.

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