Miller Value Partners LLC Makes New Investment in Fossil Group, Inc. $FOSL

Miller Value Partners LLC acquired a new stake in shares of Fossil Group, Inc. (NASDAQ:FOSL) in the second quarter, HoldingsChannel reports. The fund acquired 2,143,445 shares of the accessories brand company’s stock, valued at approximately $8,874,000. Fossil Group accounts for about 2.1% of Miller Value Partners LLC’s investment portfolio, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FOSL. Wexford Capital LP acquired a new position in Fossil Group in the third quarter worth approximately $28,000. Carrera Capital Advisors acquired a new stake in Fossil Group in the fourth quarter valued at approximately $38,000. Qube Research & Technologies Ltd bought a new stake in Fossil Group in the third quarter worth approximately $39,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in Fossil Group in the third quarter worth approximately $45,000. Finally, Jane Street Group LLC increased its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 61.14% of the company’s stock.

Fossil Group Stock Performance

NASDAQ FOSL opened at $5.46 on Wednesday. The company’s fifty day moving average is $4.68 and its two-hundred day moving average is $4.50. Fossil Group, Inc. has a 52-week low of $1.70 and a 52-week high of $6.25. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.76 and a quick ratio of 1.05. The firm has a market capitalization of $322.90 million, a price-to-earnings ratio of -4.27 and a beta of 1.62.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Pamela J. Edwards bought 7,208 shares of Fossil Group stock in a transaction dated Thursday, August 20th. The shares were bought at an average price 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 trade represents a 16.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is currently owned by corporate insiders.

Fossil Group Profile

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.