Fossil Group, Inc. (FOSL) Shares Gap Up Following Insider Buying Activity
Fossil Group, Inc. (NASDAQ:FOSL)’s share price gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $5.14, but opened at $5.68. Fossil Group shares last traded at $6.60, with a volume of 4869500 shares trading hands.
Specifically, EVP Gregory A. Mckelvey acquired 110,000 shares of the stock in a transaction on Friday, November 10th. The stock was bought at an average price of $6.22 per share, with a total value of $684,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren E. Hart acquired 14,347 shares of the stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $6.99 per share, with a total value of $100,285.53. The disclosure for this purchase can be found here. Insiders purchased 192,147 shares of company stock worth $1,329,006 in the last 90 days. 12.80% of the stock is currently owned by insiders.
Several analysts have issued reports on FOSL shares. ValuEngine downgraded shares of Fossil Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Buckingham Research lowered their price objective on shares of Fossil Group from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Piper Jaffray Companies set a $10.00 price objective on shares of Fossil Group and gave the company a “hold” rating in a research report on Thursday, October 12th. Bank of America Corporation lowered their price objective on shares of Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a research report on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of Fossil Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.43.
The company has a current ratio of 2.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $320.28, a P/E ratio of 8.05 and a beta of 0.77.
Fossil Group (NASDAQ:FOSL) last posted its earnings results on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.32. The company had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $649.87 million. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. equities analysts expect that Fossil Group, Inc. will post -0.17 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. AHL Partners LLP bought a new stake in Fossil Group in the second quarter valued at $393,000. Numeric Investors LLC bought a new stake in shares of Fossil Group during the second quarter valued at about $1,630,000. Marshall Wace North America L.P. raised its stake in shares of Fossil Group by 363.9% during the second quarter. Marshall Wace North America L.P. now owns 67,089 shares of the accessories brand company’s stock valued at $671,000 after purchasing an additional 52,626 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of Fossil Group by 214.8% during the second quarter. Engineers Gate Manager LP now owns 260,043 shares of the accessories brand company’s stock valued at $2,691,000 after purchasing an additional 177,446 shares in the last quarter. Finally, Airain ltd bought a new stake in shares of Fossil Group during the second quarter valued at about $3,214,000.
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Fossil Group Company Profile
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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