Fossil Group (NASDAQ:FOSL) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Fossil Group, Inc. (NASDAQ:FOSL) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.60 and traded as high as $3.88. Fossil Group shares last traded at $3.83, with a volume of 650,085 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FOSL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Fossil Group from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.00.

Fossil Group Stock Performance

The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.00 and a current ratio of 1.56. The business’s 50-day moving average is $3.10 and its 200-day moving average is $2.60. The company has a market capitalization of $209.27 million, a PE ratio of -3.02 and a beta of 1.61.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Thursday, November 13th. The accessories brand company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.27). Fossil Group had a negative return on equity of 18.08% and a negative net margin of 6.32%.The business had revenue of $270.20 million during the quarter, compared to analysts’ expectations of $233.32 million.

Insider Buying and Selling at Fossil Group

In related news, Director Wendy Lee Schoppert bought 41,322 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were purchased at an average cost of $2.47 per share, with a total value of $102,065.34. Following the completion of the purchase, the director owned 43,788 shares in the company, valued at approximately $108,156.36. The trade was a 1,675.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gail B. Tifford purchased 33,000 shares of Fossil Group stock in a transaction dated Thursday, November 20th. The shares were bought at an average price of $2.40 per share, with a total value of $79,200.00. Following the completion of the acquisition, the director directly owned 135,925 shares of the company’s stock, valued at approximately $326,220. This represents a 32.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 389,652 shares of company stock valued at $816,874 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Fossil Group

Several institutional investors have recently bought and sold shares of FOSL. Goldman Sachs Group Inc. increased its stake in Fossil Group by 43.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock valued at $166,000 after purchasing an additional 43,849 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Fossil Group by 93.1% during the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock valued at $49,000 after buying an additional 20,530 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Fossil Group by 154.1% during the first quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock valued at $527,000 after acquiring an additional 278,391 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Fossil Group by 17.2% during the second quarter. First Eagle Investment Management LLC now owns 761,226 shares of the accessories brand company’s stock valued at $1,127,000 after acquiring an additional 111,957 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Fossil Group in the 2nd quarter worth approximately $122,000. 61.14% of the stock is owned by hedge funds and other institutional investors.

Fossil Group Company 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.