Spark Investment Management LLC Sells 68,000 Shares of Fossil Group Inc (FOSL)
Spark Investment Management LLC decreased its holdings in Fossil Group Inc (NASDAQ:FOSL) by 13.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 437,900 shares of the accessories brand company’s stock after selling 68,000 shares during the period. Fossil Group makes up approximately 0.7% of Spark Investment Management LLC’s investment portfolio, making the stock its 25th largest position. Spark Investment Management LLC owned about 0.89% of Fossil Group worth $11,766,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in FOSL. Renaissance Technologies LLC purchased a new stake in Fossil Group during the 4th quarter valued at about $1,550,000. Deutsche Bank AG increased its position in Fossil Group by 183.4% during the 4th quarter. Deutsche Bank AG now owns 138,701 shares of the accessories brand company’s stock valued at $1,076,000 after buying an additional 89,760 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Fossil Group by 4.9% during the 4th quarter. Guggenheim Capital LLC now owns 134,193 shares of the accessories brand company’s stock valued at $1,041,000 after purchasing an additional 6,266 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in Fossil Group during the 4th quarter valued at $160,000. Finally, Wells Fargo & Company MN boosted its stake in Fossil Group by 2.7% during the 1st quarter. Wells Fargo & Company MN now owns 394,380 shares of the accessories brand company’s stock valued at $5,009,000 after purchasing an additional 10,188 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.
A number of research firms have recently issued reports on FOSL. KeyCorp raised their price target on Fossil Group from $25.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, June 4th. BidaskClub upgraded Fossil Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 12th. ValuEngine downgraded Fossil Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, Zacks Investment Research downgraded Fossil Group from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Fossil Group has a consensus rating of “Hold” and an average target price of $17.33.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Tuesday, August 7th. The accessories brand company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.65. The firm had revenue of $576.60 million for the quarter, compared to the consensus estimate of $571.95 million. Fossil Group had a negative return on equity of 1.21% and a negative net margin of 5.13%. equities research analysts expect that Fossil Group Inc will post 0.77 earnings per share for the current fiscal year.
Fossil Group Company Profile
Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.
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