Fossil Group (NASDAQ:FOSL) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Fossil Group, Inc. (NASDAQ:FOSL)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.77 and traded as high as $3.79. Fossil Group shares last traded at $3.63, with a volume of 423,394 shares trading hands.

Analysts Set New Price Targets

FOSL has been the subject of several research analyst reports. Weiss Ratings reissued 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 investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.00.

Fossil Group Trading Down 3.2%

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 firm has a market cap of $198.34 million, a price-to-earnings ratio of -2.86 and a beta of 1.61. The business has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $2.77.

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

Insider Buying and Selling at Fossil Group

In other news, CEO Franco Fogliato bought 200,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was acquired at an average price of $1.80 per share, with a total value of $360,000.00. Following the transaction, the chief executive officer owned 1,950,000 shares of the company’s stock, valued at $3,510,000. This trade represents a 11.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joe T. Martin purchased 56,180 shares of the stock in a transaction on Tuesday, November 18th. The shares were purchased at an average price of $1.78 per share, with a total value of $100,000.40. Following the acquisition, the insider owned 185,761 shares in the company, valued at approximately $330,654.58. The trade was a 43.36% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 389,652 shares of company stock worth $816,874 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Fossil Group

A number of hedge funds have recently added to or reduced their stakes in the business. EHP Funds Inc. bought a new position in shares of Fossil Group during the 3rd quarter worth approximately $28,000. Wexford Capital LP bought a new position in Fossil Group during the third quarter worth $28,000. Qube Research & Technologies Ltd bought a new position in Fossil Group during the third quarter worth $39,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Fossil Group in the third quarter worth $45,000. Finally, Jane Street Group LLC increased its stake in Fossil Group by 93.1% in the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock valued at $49,000 after purchasing an additional 20,530 shares in the last quarter. 61.14% of the stock is currently owned by institutional investors.

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.