Fossil Group, Inc. (NASDAQ:FOSL) Short Interest Down 44.3% in March

Fossil Group, Inc. (NASDAQ:FOSL) saw a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 3,424,481 shares, a decline of 44.3% from the February 26th total of 6,149,857 shares. Based on an average daily volume of 1,214,615 shares, the short-interest ratio is presently 2.8 days. Currently, 6.0% of the company’s shares are sold short.

Institutional Investors Weigh In On Fossil Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wexford Capital LP purchased a new stake in shares of Fossil Group during the 3rd quarter worth $28,000. EHP Funds Inc. purchased a new position in Fossil Group in the third quarter valued at $28,000. Carrera Capital Advisors acquired a new stake in Fossil Group in the fourth quarter valued at $38,000. Qube Research & Technologies Ltd acquired a new stake in Fossil Group in the third quarter valued at $39,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in Fossil Group during the 3rd quarter worth about $45,000. 61.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FOSL shares. Wall Street Zen downgraded shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Northland Securities assumed coverage on Fossil Group in a report on Thursday, February 19th. They issued an “outperform” rating and a $7.00 price objective on the stock. Maxim Group increased their price objective on Fossil Group from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Zacks Research raised Fossil Group to a “hold” rating in a research note on Friday, February 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a report on Thursday, January 22nd. Two investment 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. Based on data from MarketBeat, Fossil Group currently has a consensus rating of “Hold” and an average price target of $7.00.

Fossil Group Stock Down 2.0%

FOSL stock traded down $0.08 during mid-day trading on Friday, reaching $3.98. The company had a trading volume of 321,419 shares, compared to its average volume of 948,091. The firm has a fifty day simple moving average of $4.08 and a 200 day simple moving average of $3.36. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.05 and a current ratio of 1.55. The company has a market capitalization of $232.23 million, a price-to-earnings ratio of -2.73 and a beta of 1.68. Fossil Group has a fifty-two week low of $0.86 and a fifty-two week high of $5.00.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Wednesday, March 11th. The accessories brand company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The company had revenue of $280.52 million for the quarter, compared to analyst estimates of $249.28 million. Fossil Group had a negative return on equity of 46.78% and a negative net margin of 7.81%.

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.